Development benefit, comparative benefit and the contest between two roads. Issue 1 (12th October 2021)

• Record Type: Journal Article
• Authors: Ding, Weimin; Zhang, Xiaoyu
• Is Part Of: China political economy. Volume 4:Issue 1(2021)
• Page Start: 14
• Page End: 29
• Publication Date: 2021-10-12
• Subjects: Development benefit -- Comparative benefit -- International value -- Unequal development -- Common development; China -- Economic policy -- Periodicals; China -- Economic conditions -- Periodicals; China -- Politics and government -- Periodicals; 338.951
• DOI: 10.1108/CPE-06-2021-0009
• Languages: English
• ISSNs: 2516-1652

Abstract

Abstract : Purpose: Under the circumstance that the development of developing countries is a major issue that has long been of concern to Marxist scholars, the research is focused on the category of development benefit, which Xi Jinping has mentioned many times. Design/methodology/approach: Based on the Marxist theory of international value, the authors of this paper indicate that development benefit is the result of developing countries' consistently increasing labor productivity, reducing squandering in labor and transforming more labor into real value, and thus the fundamental cause of unequal development in international economics turns from the field of circulation to the area of production. Findings: Also, the authors summarize China's experience of obtaining the development benefit and China's development path featuring common development and criticized the comparative advantage of mainstream Western economics, revealed the path of dependency development represented by mainstream Western economics. Originality/value: Finally, the authors analyze the essence of the economy and trade conflict between China and the US and the respective strategic goals of the two countries and provide an outlook on the contest between the two roads of development and the evolutionary trend of the relationship between developed and developing countries.