Core Viewpoint - The article discusses the challenges faced by Western economic theories in explaining the complexities of economic development, particularly in the context of China's unique economic landscape and the need for a distinct Chinese economic theory [1][3][9]. Group 1: Challenges of Western Economic Theories - Western economic theories have increasingly struggled to address fundamental issues of economic development, leading to a crisis in their explanatory power [3][4]. - The inherent bias in Western analytical paradigms tends to overlook critical variables such as large-scale economies and unified markets, which are essential for understanding the Chinese economic context [4][10]. - The simplification of complex economic issues into linear relationships has exacerbated the difficulties faced by traditional Western economic theories in explaining real-world phenomena [4][7]. Group 2: Limitations in Understanding China's Economy - Western mainstream economics has not effectively adapted to the unique characteristics of the Chinese economy, leading to a credibility crisis in its theoretical applicability [9][10]. - The lack of localization and adaptation of Western economic theories to the Chinese context has resulted in significant gaps in understanding the dynamics of China's socialist market economy [9][10]. - Key variables that are crucial for understanding China's economic growth, such as its vast market size and cultural factors, have been largely ignored by Western economic theories, leading to a persistent explanatory crisis [10][11]. Group 3: The Need for a Chinese Economic Theory - There is a growing movement within the Chinese academic community to establish an autonomous knowledge system for economics that is rooted in China's development and reform practices [1][12]. - The construction of a new economic theory should be based on the successful practices of Chinese modernization, aiming to break free from the ideological biases of Western economics [12][13]. - A systematic approach to developing a new economic terminology and framework is essential for accurately reflecting the realities of the Chinese economy and its unique characteristics [13].

Group 1 - The publication of "Selected Works of Xi Jinping on Economics" is a significant event in China's political and economic life, providing a comprehensive view of the economic strategies of the Communist Party [1][3] - The collection includes 74 important works by Xi Jinping from November 2012 to December 2024, contributing to the development of Marxist political economy and serving as an authoritative textbook for understanding Xi Jinping's economic thought [1][3][5] - The works emphasize the importance of integrating Marxist political economy with China's specific realities and traditional culture, aiming to establish a Chinese economic knowledge system [7][9] Group 2 - The core of China's economic knowledge system is the socialist political economy with Chinese characteristics, which Xi Jinping has defined as a scientific category [2][4] - The development of this economic thought is rooted in the historical context of China's socialist construction and reform, highlighting the need for original theoretical contributions [2][4][5] - The "two combinations" method is emphasized as a scientific methodology for constructing the Chinese economic knowledge system, focusing on the relationship between theory and practice [6][7] Group 3 - Xi Jinping's economic thought reflects a new understanding of economic development laws, particularly in the context of high-quality development and modernization of socialism [3][5] - The thought provides a framework for addressing major risks and challenges while promoting a comprehensive modernization strategy [3][5][16] - The publication serves as a guide for enhancing confidence in developing a socialist political economy with Chinese characteristics [5][22] Group 4 - The concept of "Chinese-style modernization" is presented as a unique path that breaks away from Western-centric development paradigms, emphasizing the need for a coordinated approach to various development elements [15][16][17] - This modernization is characterized by its multi-dimensional and multi-layered nature, providing fertile ground for theoretical innovation in economics [16][18] - The practical experiences of Chinese-style modernization are seen as essential for developing new economic theories that can address contemporary challenges [20][21] Group 5 - The construction of a Chinese economic knowledge system is framed as a strategic task for the philosophical and social sciences, with the publication of the selected works providing valuable resources for researchers [22][25] - The emphasis is placed on the need for originality and autonomy in economic theory, drawing from China's unique historical and cultural context [24][25] - The integration of Xi Jinping's economic thought into educational and research frameworks is crucial for fostering a new generation of economists [27][28]