Group 1 - The article discusses the challenges of discussing China's economic issues, highlighting that Chinese scholars are often labeled as representatives of Western capitalism due to the lack of a systematic Eastern economic theory [2] - It emphasizes that all economic theories, including those in natural and social sciences, are predominantly based on Western frameworks, suggesting a need to avoid politicizing and populating academic discourse [2][4] - The article argues that economic laws are universal and not bound by ideological positions, indicating that adherence to outdated economic practices, such as land finance in real estate, can lead to market failures [4][8] Group 2 - There is a call for the development of a distinct Chinese economic theory that can stand alongside Western theories, contributing to the global economic discourse [6] - The article questions whether existing Marxist economic teachings in China can evolve to be more relevant and applicable to contemporary economic practices, suggesting a need for modernization and adaptation [6] - It asserts that economic principles, such as supply and demand, are not influenced by cultural or ideological perspectives, reinforcing the idea that market dynamics will prevail regardless of theoretical frameworks [8]

Group 1 - The steel industry in China, despite low profitability, is considered a crucial pillar of the national economy, with a total output value of 81,300 billion and a profit of only 291 billion, resulting in a profit margin of 0.36% [2] - China's steel production capacity remains around 1.1 billion tons, accounting for over half of global production, with a shift towards high-end products essential for various infrastructure projects [3] - The transformation of the steel industry in China reflects a broader economic management strategy that prioritizes social stability and employment over short-term financial gains [5][14] Group 2 - The U.S. and European countries are facing challenges in their steel industries due to protectionist policies and a lack of long-term strategic planning, leading to job losses and decreased competitiveness [10][11][12] - Japan's acquisition of U.S. steel companies to avoid tariffs may compromise its technological independence and long-term competitiveness in the steel sector [13] - The contrasting approaches between China and Western countries highlight a fundamental difference in economic philosophies, with China focusing on human factors and social welfare rather than purely financial metrics [14]

Group 1 - The book titled "The Logic of China's Economic Development" critiques mainstream economics and its applicability to China, arguing that traditional Western economic theories fail to explain China's unique economic context [1][3] - The authors emphasize that their understanding of China's economy has been a long-term process, reflecting on its distinctiveness and deep logic, which has remained relevant despite changing circumstances over the past five years [3][4] - The emergence of new concepts such as "high-quality development" and "Chinese-style modernization" has been integrated into the authors' existing theoretical framework without significant modifications, indicating the robustness of their analysis [4] Group 2 - The authors acknowledge the unforeseen global changes, particularly the advancements in artificial intelligence, which are expected to revolutionize various sectors, including intellectual labor [4][5] - The book is positioned as a "cross-era" work, anticipating that future literature will be heavily influenced by AI, enhancing the ability to observe, understand, and predict complex phenomena, including the Chinese economy [5] - The publication process involved contributions from various academic and research institutions, highlighting a collaborative effort in refining the book's content [5]

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].