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Article
Publication date: 7 December 2023

Hutao Yang

The integration of the digital economy and the real economy has been a key focus in promoting digital economic development. It denotes a comprehensive digital transformation of…

Abstract

Purpose

The integration of the digital economy and the real economy has been a key focus in promoting digital economic development. It denotes a comprehensive digital transformation of national economic activities regarding technological infrastructure and production modes, which is crucial for establishing a modern economic system, advancing industrial infrastructure and modernizing industrial chains.

Design/methodology/approach

Firstly, the study delves into the internal logic behind the emergence of the new development dynamic resulting from digital technology's evolution. Secondly, it explores the mechanism of mutual promotion and support between the new development dynamic and the digital economy based on China's shift in focus from international engagement to the domestic economy during different stages of industrialization. Subsequently, it analyzes the characteristics and critical factors of digital economy development and examines the macro-, meso- and micro-level constraints on these factors. Finally, the paper explores approaches to promoting digital economy development while constructing the new development dynamic and provides relevant policy suggestions.

Findings

The construction of the new development dynamic and the development of the digital economy are inextricably linked, and only by mutually reinforcing each other can they provide an inexhaustible impetus for China's high-quality economic development.

Originality/value

The new development dynamic and the digital economy development form an indivisible whole. The new development dynamic creates the necessary conditions for digital economy development and promotes the formation of digital production modes. In turn, the development of the digital economy should strive to improve the mainstay position of the domestic economy, enhance the synergy between the domestic economy and international engagement, upgrade value chains while improving the supply and the industrial chains in China and ensure a parallel increase in labor income alongside improved productivity.

Details

China Political Economy, vol. 6 no. 2
Type: Research Article
ISSN: 2516-1652

Keywords

Open Access
Article
Publication date: 22 November 2024

Hutao Yang and Mingxuan Yang

The “problem-ridden present” is indubitably related to the prevalence of neoliberalism, but it is also when the fifth technological revolution took place. In this special time…

Abstract

Purpose

The “problem-ridden present” is indubitably related to the prevalence of neoliberalism, but it is also when the fifth technological revolution took place. In this special time, what should be done to achieve the coupling of Socio-political Paradigmand Technoeconomic Paradigm through the adaptive transformation of socio-political paradigm to avoid the resurfacing of the “problem-ridden present”?

Design/methodology/approach

The obvious difference between the efficacy of the fifth technological revolution and the previous four indicates that the Techno-economic Paradigm of Neo-Schumpeterian school is not sufficient enough to explain the institutional obstacles. No matter institutional or technological, any single perspective would not be adequate to explain the fundamental cause of the “problem-ridden present”.

Findings

From a historical materialism standpoint, the structure and progress of the techno-economic paradigm are inevitably influenced by the socio-political paradigm, and only when the techno-economic paradigm and the socio-political paradigm are coupled, the potential of the wave of technological revolution can be “shared release.”

Originality/value

The coupling analysis of the Socio-political Paradigm and the Technoeconomic Paradigm is of great enlightening value to the understanding of the economic development in the Digital Economy era.

Details

China Political Economy, vol. 7 no. 1
Type: Research Article
ISSN: 2516-1652

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