| Abstract | In recent years, China’s economic growth has been showing a trend of slowdown. The explanation of the slowdown can be divided into three categories: supply-based arguments, demand-based arguments and supply-demand structure based arguments. The first mainly explore its causes of long-term supply side from the perspective of the slowdown in productivity growth, while the second mainly analyze its short-term demand side factors from the perspective of insufficient domestic and foreign demand. Both of these views have their own side, but they are all incomprehensive. The third mainly explore its reasons of the supply-demand structure imbalance, and expand their theoretical basis to economic development, so that the third are more reasonable than the previous two, but they are not deep enough to combine theory with reality. The paper attempts to use the theory of Marx's reproduction as the framework of analysis, learning from the insights of various theoretical traditions, to build a two-sector structure model to explore the dual economic operating mechanism, and to use this framework to analyze China's economic slowdown and structural imbalance, so as to provide useful inspiration for China's current structural reform of supply side. |