The 27th Annual Meeting of the Chinese Association for the History of Foreign Economic Doctrines Held in Anhui
From November 8-10, 2019, the 27th Annual Meeting of the Chinese Association of Foreign Economic Theories (CAFET) was held at the Anhui University of Technology. The event was co-hosted by the CAFET and the Anhui University of Technology, and organized by the University’s School of Business and its Institute for Innovation-Driven Development. Attendees included Cheng Enfu, Chief Professor at the University of the Chinese Academy of Social Sciences, Member of the CASS Academic Division [1], and President of the CAFET; Professor Liu Xinyue, Secretary of the University Party Committee; Vice President Hua Guihong, Secretary of the Party Committee of Jiangsu Normal University; Vice President Hu Leming of the CASS Institute of Economics; and Vice Presidents Fang Xingqi (Guangdong University of Finance and Economics), Zhang Xian (Sichuan University), Cao Heping (Peking University), Jia Genliang (Renmin University of China), Feng Jinhua (Shanghai University of Finance and Economics), and Meng Jie (Fudan University). More than 180 experts and scholars from domestic universities, research institutions, and academic journals including CASS, Renmin University of China, Wuhan University, Shandong University, and Jilin University participated. Guided by the spirit of the Fourth Plenary Session of the 19th CPC Central Committee, the annual meeting focused on investigating foreign economic theories, summarizing 70 years of economic construction in New China, and exploring future economic development both at home and abroad.
At the opening ceremony, Secretary Liu Xinyue of the Anhui University of Technology delivered the welcoming address. He introduced the development history, school positioning, discipline construction, and talent cultivation of the University and its School of Business. He pointed out that General Secretary Xi Jinping’s "three proposals" and "five measures" regarding economic globalization and China’s continuous advancement of higher-level opening-up, delivered at the second China International Import Expo, provide clear direction and guidance [2] for conducting research on the political economy of socialism with Chinese characteristics. He expressed hope that, under the guidance of the spirit of the Fourth Plenary Session of the 19th CPC Central Committee, the delegates would expand the depth of research on foreign economic theories with a broad vision, profound commitment, innovative thinking, and forward-looking perspectives, offering suggestions for China's Marxist economic theory and its economic and social development.
Renowned economist Professor Cheng Enfu delivered the opening speech and a keynote report. He noted that the annual meeting would revolve around the themes of Xi Jinping Thought on Socialist Economy with Chinese Characteristics for a New Era, new developments in contemporary Western economics, the comparison between Marxist economics and Western economics, and the summary and outlook of China’s 70 years of economic construction. He provided an in-depth analysis of three major issues: "Objectively evaluating Western economics and Marxist economics," "Accurately understanding the achievements and problems of 70 years of economic construction in New China," and "Scientifically situating the five major characteristics and properties of neo-imperialism."
First, Professor Cheng emphasized that studying Western economics must not overlook its class nature. Marx clearly pointed out that "economists are the scientific representatives of the bourgeoisie," referring to classical economists represented by Adam Smith and David Ricardo. Marx’s emphasis on the class nature of economics and economists remains of practical significance today. Contemporary Western bourgeois economists, represented by winners of the "Bank Nobel Prize" [3], are the academic representatives of the contemporary bourgeoisie, especially the monopoly bourgeoisie. Many of their fundamental academic viewpoints possess serious class tendencies and value biases, being neither objective nor scientific. However, their analysis of certain economic phenomena contains elements worthy of study and reference. This year, the "Bank Nobel Prize" was not awarded to neoliberal economists who have generated various economic crises and the opposition between wealth and poverty, but to scholars researching poverty; this is a positive development. Nevertheless, their investigations into poverty and its causes are primarily phenomenal, describing it from the perspective of the poor themselves rather than deeply dissecting it from the deep-seated institutional and policy maladies of capitalist economy, politics, education, and culture. This is determined by their essence as academic representatives of the bourgeoisie. Only Chinese and foreign Marxist economists can—and have already—scientifically revealed the true causes of various types of poverty from phenomenon to essence. Currently, high importance must be attached to Thomas Piketty's new book Capital and Ideology, which contains many correct viewpoints worthy of affirmation.
Second, Professor Cheng pointed out that the 70-year history of New China can be divided into three major historical stages: before reform and opening-up, after reform and opening-up, and the New Era following the 18th National Congress of the CPC. Regarding economic construction, these three stages created "three miracles" of world economic development, successively forming three stages: initial prosperity and strength, sub-intermediate prosperity and strength, and intermediate prosperity and strength as a "quasi-center" of the world economic system. The achievements of economic construction in the first 30 years of New China present brilliant performance, whether compared vertically with Old China or horizontally with international peers. The multi-faceted development dividends accumulated during those first 30 years were an indispensable foundation and prerequisite for the success of reform and opening-up.
Third, Professor Cheng noted that establishing a theory of "neo-imperialism" is extremely necessary for studying foreign economic theories. Neo-imperialism is a specific historical stage of development for monopoly capitalism under the conditions of contemporary economic globalization and financialization. It possesses five characteristics: new monopolies in production and circulation, new monopolies of finance capital, monopolies of the US dollar and intellectual property, new monopolies of international oligarchic alliances, and the frequent intensification of global capitalist contradictions and various crises. It further possesses four properties: monopolistic and predatory, hegemonic and fraudulent, decadent and parasitic, and transitional and moribund. Based on this analysis, Professor Cheng pointed out that neo-imperialism is a new stage where capitalism has developed from free competition, general private monopoly, and state monopoly to international monopoly. It represents the new expansion of the international monopoly bourgeoisie, a new system through which a tiny minority of developed countries dominate the world, and a new policy of economic, political, cultural, and military hegemonism. Judging from the current convoluted development of international justice forces and international class struggle, the 21st century is a New Era for the world's working class and the broad masses to carry out a great revolution and safeguard world peace; a New Era for socialist countries to carry out great construction and rapid development; a New Era for progressive and civilized countries to jointly build a community with a shared future for humanity; and a grand era in which neo-imperialism and global capitalism gradually transition toward global socialism.
The annual meeting was divided into keynote speeches and group discussions. Following the opening ceremony, several professors delivered keynote speeches: Professor Ding Xiaoqin (Shanghai University of Finance and Economics) on "Elucidating the Thoughts of the 2019 World Marxian Economics Award Winners"; Professor Zou Wei (Wuhan University) on "Theoretical Evaluation of the 2019 Nobel Prize Winners in Economics"; Professor Fang Xingqi (Guangdong University of Finance and Economics) on "Re-evaluating Western Comparative Advantage Theory Based on the China-US Trade War"; Professor Jia Genliang (Renmin University of China) on "Returning to the Source of the Concept of Latecomer Advantage: An Investigation into the History of Economic Thought and its Major Practical Significance"; Professor Feng Jinhua (Shanghai University of Finance and Economics) on "Interest Rate Determination Theory and Monetary Policy Based on the Labor Theory of Value"; Professor Meng Jie (Fudan University) on "The Theory of the State in Political Economy of Socialism with Chinese Characteristics: Origins, Objects, and System"; Professor Li Guicai (Jilin University of Finance and Economics) on "The Limits of Reason: The Evolution and Reflection of Neoliberalism—Simultaneously on the Transcendence of Neoliberalism by the China Model"; Professor Yang Hutao (CASS) on "What Caused the Long Depression? Can it End?—Explanations and Synthesis from Heterodox Economics"; and Professor Hong Gongxiang (Anhui University of Technology) on "The Theoretical Sources, Disputes, and Reviews of the Denial and Suspicion of the Private Economy." The profound insights and novel viewpoints of the experts were met with enthusiastic applause.
On the afternoon of the 9th, delegates participated in five group discussions: "70 Years of Economic Construction in New China and Research on the Political Economy of Socialism with Chinese Characteristics," "Research on Marxist Economic Theory," "Research on Western Economic Theory," "Research on China's Economic Issues," and "Research on International Economic Issues." A total of 32 representatives reported on their research results during the group sessions. On the morning of the 10th, Professors Zhang Xian (Sichuan University), Cao Heping (Peking University), Wu Shanlin (Shanghai University of Finance and Economics), Chen Hong (Nankai University), Long Fu (Wuhan University), Tao Shigui (Nanjing Normal University), Song Xianping (Beijing Institute of Technology), and Jiang Xiaoguo (Anhui University of Technology) delivered speeches.
At the closing ceremony, the Association presented certificates for the 27th Annual Meeting Outstanding Papers to 11 authors. Following deliberations, the Association also announced the list of newly elected executive directors and board members. Vice President Zhang Xian delivered the closing speech, and Professor Hu Leming presided over the ceremony.
The Chinese Association of Foreign Economic Theories was established in Beijing in September 1979 by Professor Chen Daisun and other renowned elder-generation economists. It is a national first-tier economic association for the study of foreign economic theories. Its annual meeting has developed into one of the few large-scale academic events with the most active exchange and greatest influence in China’s economic field, making outstanding contributions to the scientific "sublation" [4] of foreign economic theories and the development and innovation of Chinese economics.
(By Xu Zerong and Yang Jing)