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Choice and Innovation: A Survey of the Sinicization of Western Economic Theories in Modern China
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TitleChoice and Innovation: A Survey of the Sinicization of Western Economic Theories in Modern China  
AuthorCheng Lin, Zhang Shen and Chen Xudong  
OrganizationSchool of Economics of Shanghai University;; 
Key WordsSinicization of western economic theories; Chinese schools of economics; choice and innovation 
AbstractEfforts and attempts to sinicize western economic theories have been seen ever since the modern times, which serve as an important source for the development of economics studies in China. On the basis of proper learning and application of western economic theories and for the purpose of solving economic problems and promoting economic development in China, modern Chinese scholars have explored the sinicization of economic theories by means of choosing, adapting, developing, and innovating. By so doing, they have not only promoted the analysis and transformation of China’s macro and microeconomy in practice, but also made theoretical academic achievements to reward the international academia. The paper bases itself on extensive historical materials collection and case studies, and uses western economic theories in its broad sense as the scope of research to explore the process, results, extent and level of the sinicization of western economic theories since the modern times.Finally, it points out that the cognition and requirement of western economic theories should not be limited to “how to use it properly” and “how to use it well”, but should also seek for breakthroughs in basic theories. As such, it is possible to achieve the evolution and elevation of “schools of economics with Chinese characteristics” from theory to practice and then back to theory and from absorption to assimilation and then to feedback.  
Serial NumberWP1273 
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