The "Dual Circulation" development model of China : background and insights
Purpose - Global supply chains experienced unprecedented changes in 2020 and the relationship between domestic and global markets needed adjustments considering the long-term impacts of the changes that are unfolding around these markets. China has become the first country to announce a formal strat...
Ausführliche Beschreibung
Gespeichert in:
| Autor*in: |
Javed, Saad Ahmed [verfasserIn] Yu, Bo [verfasserIn] Tao, Liangyan [verfasserIn] Dong, Wenjie [verfasserIn] |
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| Format: |
E-Artikel |
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| Sprache: |
Englisch |
| Erschienen: |
2023 |
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| Rechteinformationen: |
Open Access Namensnennung 4.0 International ; CC BY 4.0 |
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| Schlagwörter: |
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| Übergeordnetes Werk: |
Enthalten in: Rajagiri management journal - Bingley, United Kingdom : Emerald Publishing, 2019, 17(2023), 1, Seite 2-20 |
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| Übergeordnetes Werk: |
volume:17 ; year:2023 ; number:1 ; pages:2-20 |
| Links: |
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| DOI / URN: |
10.1108/RAMJ-03-2021-0016 |
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| Katalog-ID: |
1852055782 |
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10.1108/RAMJ-03-2021-0016 doi (DE-627)1852055782 (DE-599)KXP1852055782 DE-627 ger DE-627 rda eng Javed, Saad Ahmed verfasserin (DE-588)1242603972 (DE-627)1772591092 aut The "Dual Circulation" development model of China background and insights Saad Ahmed Javed and Yu Bo, Liangyan Tao and Wenjie Dong 2023 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier DE-206 Open Access Controlled Vocabulary for Access Rights http://purl.org/coar/access_right/c_abf2 Purpose - Global supply chains experienced unprecedented changes in 2020 and the relationship between domestic and global markets needed adjustments considering the long-term impacts of the changes that are unfolding around these markets. China has become the first country to announce a formal strategy - "Dual Circulation" Strategy (DCS) - to guide its self-reliant economic development in the post-COVID era. However, what exactly is the DCS and what drove China to publicize this strategy is not yet clear. This study aims to answer these questions. Design/methodology/approach - Based on an extensive review of literature and media reports, a background has been constructed that justifies the DCS as a long-overdue historic necessity. Findings - A novel definition of "Dual Circulation" is introduced. A novel construct to visualize the domestic circulation in light of international and domestic markets and international circulation has been presented. The study argues that maintaining optimum levels of consumption and saving rates is crucial to the DCS’s success. Originality/value - The study pioneers the first scientific definition of the “Dual Circulation” that will pave way for future debate on the topic. Also, it is the first time an academic study on the DCS has been executed. DE-206 Namensnennung 4.0 International CC BY 4.0 cc https://creativecommons.org/licenses/by/4.0/legalcode Dual circulation (dpeaa)DE-206 Economics (dpeaa)DE-206 Consumption (dpeaa)DE-206 Sustainable development (dpeaa)DE-206 China (dpeaa)DE-206 Yu, Bo verfasserin (DE-588)1256856061 (DE-627)1801010838 aut Tao, Liangyan verfasserin (DE-588)1169671365 (DE-627)1035273942 (DE-576)512184100 aut Dong, Wenjie verfasserin (DE-588)1284563758 (DE-627)1840224606 aut Enthalten in Rajagiri management journal Bingley, United Kingdom : Emerald Publishing, 2019 17(2023), 1, Seite 2-20 Online-Ressource (DE-627)1757868356 (DE-600)3064235-8 2633-0091 nnns volume:17 year:2023 number:1 pages:2-20 https://www.emerald.com/insight/content/doi/10.1108/RAMJ-03-2021-0016/full/pdf?title=the-dual-circulation-development-model-of-china-background-and-insights Verlag kostenfrei http://doi.org/10.1108/RAMJ-03-2021-0016 Resolving-System kostenfrei GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_95 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_161 GBV_ILN_170 GBV_ILN_206 GBV_ILN_213 GBV_ILN_230 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_2014 GBV_ILN_4012 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4249 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4335 GBV_ILN_4338 GBV_ILN_4367 GBV_ILN_4700 GBV_ILN_2403 GBV_ILN_2403 ISIL_DE-LFER AR 17 2023 1 2-20 26 01 0206 4348898065 x1z 06-07-23 2403 01 DE-LFER 436366858X 00 --%%-- --%%-- n --%%-- l01 08-08-23 2403 01 DE-LFER http://doi.org/10.1108/RAMJ-03-2021-0016 2403 01 DE-LFER https://www.emerald.com/insight/content/doi/10.1108/RAMJ-03-2021-0016/full/pdf?title=the-dual-circulation-development-model-of-china-background-and-insights |
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10.1108/RAMJ-03-2021-0016 doi (DE-627)1852055782 (DE-599)KXP1852055782 DE-627 ger DE-627 rda eng Javed, Saad Ahmed verfasserin (DE-588)1242603972 (DE-627)1772591092 aut The "Dual Circulation" development model of China background and insights Saad Ahmed Javed and Yu Bo, Liangyan Tao and Wenjie Dong 2023 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier DE-206 Open Access Controlled Vocabulary for Access Rights http://purl.org/coar/access_right/c_abf2 Purpose - Global supply chains experienced unprecedented changes in 2020 and the relationship between domestic and global markets needed adjustments considering the long-term impacts of the changes that are unfolding around these markets. China has become the first country to announce a formal strategy - "Dual Circulation" Strategy (DCS) - to guide its self-reliant economic development in the post-COVID era. However, what exactly is the DCS and what drove China to publicize this strategy is not yet clear. This study aims to answer these questions. Design/methodology/approach - Based on an extensive review of literature and media reports, a background has been constructed that justifies the DCS as a long-overdue historic necessity. Findings - A novel definition of "Dual Circulation" is introduced. A novel construct to visualize the domestic circulation in light of international and domestic markets and international circulation has been presented. The study argues that maintaining optimum levels of consumption and saving rates is crucial to the DCS’s success. Originality/value - The study pioneers the first scientific definition of the “Dual Circulation” that will pave way for future debate on the topic. Also, it is the first time an academic study on the DCS has been executed. DE-206 Namensnennung 4.0 International CC BY 4.0 cc https://creativecommons.org/licenses/by/4.0/legalcode Dual circulation (dpeaa)DE-206 Economics (dpeaa)DE-206 Consumption (dpeaa)DE-206 Sustainable development (dpeaa)DE-206 China (dpeaa)DE-206 Yu, Bo verfasserin (DE-588)1256856061 (DE-627)1801010838 aut Tao, Liangyan verfasserin (DE-588)1169671365 (DE-627)1035273942 (DE-576)512184100 aut Dong, Wenjie verfasserin (DE-588)1284563758 (DE-627)1840224606 aut Enthalten in Rajagiri management journal Bingley, United Kingdom : Emerald Publishing, 2019 17(2023), 1, Seite 2-20 Online-Ressource (DE-627)1757868356 (DE-600)3064235-8 2633-0091 nnns volume:17 year:2023 number:1 pages:2-20 https://www.emerald.com/insight/content/doi/10.1108/RAMJ-03-2021-0016/full/pdf?title=the-dual-circulation-development-model-of-china-background-and-insights Verlag kostenfrei http://doi.org/10.1108/RAMJ-03-2021-0016 Resolving-System kostenfrei GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_95 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_161 GBV_ILN_170 GBV_ILN_206 GBV_ILN_213 GBV_ILN_230 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_2014 GBV_ILN_4012 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4249 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4335 GBV_ILN_4338 GBV_ILN_4367 GBV_ILN_4700 GBV_ILN_2403 GBV_ILN_2403 ISIL_DE-LFER AR 17 2023 1 2-20 26 01 0206 4348898065 x1z 06-07-23 2403 01 DE-LFER 436366858X 00 --%%-- --%%-- n --%%-- l01 08-08-23 2403 01 DE-LFER http://doi.org/10.1108/RAMJ-03-2021-0016 2403 01 DE-LFER https://www.emerald.com/insight/content/doi/10.1108/RAMJ-03-2021-0016/full/pdf?title=the-dual-circulation-development-model-of-china-background-and-insights |
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10.1108/RAMJ-03-2021-0016 doi (DE-627)1852055782 (DE-599)KXP1852055782 DE-627 ger DE-627 rda eng Javed, Saad Ahmed verfasserin (DE-588)1242603972 (DE-627)1772591092 aut The "Dual Circulation" development model of China background and insights Saad Ahmed Javed and Yu Bo, Liangyan Tao and Wenjie Dong 2023 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier DE-206 Open Access Controlled Vocabulary for Access Rights http://purl.org/coar/access_right/c_abf2 Purpose - Global supply chains experienced unprecedented changes in 2020 and the relationship between domestic and global markets needed adjustments considering the long-term impacts of the changes that are unfolding around these markets. China has become the first country to announce a formal strategy - "Dual Circulation" Strategy (DCS) - to guide its self-reliant economic development in the post-COVID era. However, what exactly is the DCS and what drove China to publicize this strategy is not yet clear. This study aims to answer these questions. Design/methodology/approach - Based on an extensive review of literature and media reports, a background has been constructed that justifies the DCS as a long-overdue historic necessity. Findings - A novel definition of "Dual Circulation" is introduced. A novel construct to visualize the domestic circulation in light of international and domestic markets and international circulation has been presented. The study argues that maintaining optimum levels of consumption and saving rates is crucial to the DCS’s success. Originality/value - The study pioneers the first scientific definition of the “Dual Circulation” that will pave way for future debate on the topic. Also, it is the first time an academic study on the DCS has been executed. DE-206 Namensnennung 4.0 International CC BY 4.0 cc https://creativecommons.org/licenses/by/4.0/legalcode Dual circulation (dpeaa)DE-206 Economics (dpeaa)DE-206 Consumption (dpeaa)DE-206 Sustainable development (dpeaa)DE-206 China (dpeaa)DE-206 Yu, Bo verfasserin (DE-588)1256856061 (DE-627)1801010838 aut Tao, Liangyan verfasserin (DE-588)1169671365 (DE-627)1035273942 (DE-576)512184100 aut Dong, Wenjie verfasserin (DE-588)1284563758 (DE-627)1840224606 aut Enthalten in Rajagiri management journal Bingley, United Kingdom : Emerald Publishing, 2019 17(2023), 1, Seite 2-20 Online-Ressource (DE-627)1757868356 (DE-600)3064235-8 2633-0091 nnns volume:17 year:2023 number:1 pages:2-20 https://www.emerald.com/insight/content/doi/10.1108/RAMJ-03-2021-0016/full/pdf?title=the-dual-circulation-development-model-of-china-background-and-insights Verlag kostenfrei http://doi.org/10.1108/RAMJ-03-2021-0016 Resolving-System kostenfrei GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_95 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_161 GBV_ILN_170 GBV_ILN_206 GBV_ILN_213 GBV_ILN_230 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_2014 GBV_ILN_4012 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4249 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4335 GBV_ILN_4338 GBV_ILN_4367 GBV_ILN_4700 GBV_ILN_2403 GBV_ILN_2403 ISIL_DE-LFER AR 17 2023 1 2-20 26 01 0206 4348898065 x1z 06-07-23 2403 01 DE-LFER 436366858X 00 --%%-- --%%-- n --%%-- l01 08-08-23 2403 01 DE-LFER http://doi.org/10.1108/RAMJ-03-2021-0016 2403 01 DE-LFER https://www.emerald.com/insight/content/doi/10.1108/RAMJ-03-2021-0016/full/pdf?title=the-dual-circulation-development-model-of-china-background-and-insights |
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10.1108/RAMJ-03-2021-0016 doi (DE-627)1852055782 (DE-599)KXP1852055782 DE-627 ger DE-627 rda eng Javed, Saad Ahmed verfasserin (DE-588)1242603972 (DE-627)1772591092 aut The "Dual Circulation" development model of China background and insights Saad Ahmed Javed and Yu Bo, Liangyan Tao and Wenjie Dong 2023 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier DE-206 Open Access Controlled Vocabulary for Access Rights http://purl.org/coar/access_right/c_abf2 Purpose - Global supply chains experienced unprecedented changes in 2020 and the relationship between domestic and global markets needed adjustments considering the long-term impacts of the changes that are unfolding around these markets. China has become the first country to announce a formal strategy - "Dual Circulation" Strategy (DCS) - to guide its self-reliant economic development in the post-COVID era. However, what exactly is the DCS and what drove China to publicize this strategy is not yet clear. This study aims to answer these questions. Design/methodology/approach - Based on an extensive review of literature and media reports, a background has been constructed that justifies the DCS as a long-overdue historic necessity. Findings - A novel definition of "Dual Circulation" is introduced. A novel construct to visualize the domestic circulation in light of international and domestic markets and international circulation has been presented. The study argues that maintaining optimum levels of consumption and saving rates is crucial to the DCS’s success. Originality/value - The study pioneers the first scientific definition of the “Dual Circulation” that will pave way for future debate on the topic. Also, it is the first time an academic study on the DCS has been executed. DE-206 Namensnennung 4.0 International CC BY 4.0 cc https://creativecommons.org/licenses/by/4.0/legalcode Dual circulation (dpeaa)DE-206 Economics (dpeaa)DE-206 Consumption (dpeaa)DE-206 Sustainable development (dpeaa)DE-206 China (dpeaa)DE-206 Yu, Bo verfasserin (DE-588)1256856061 (DE-627)1801010838 aut Tao, Liangyan verfasserin (DE-588)1169671365 (DE-627)1035273942 (DE-576)512184100 aut Dong, Wenjie verfasserin (DE-588)1284563758 (DE-627)1840224606 aut Enthalten in Rajagiri management journal Bingley, United Kingdom : Emerald Publishing, 2019 17(2023), 1, Seite 2-20 Online-Ressource (DE-627)1757868356 (DE-600)3064235-8 2633-0091 nnns volume:17 year:2023 number:1 pages:2-20 https://www.emerald.com/insight/content/doi/10.1108/RAMJ-03-2021-0016/full/pdf?title=the-dual-circulation-development-model-of-china-background-and-insights Verlag kostenfrei http://doi.org/10.1108/RAMJ-03-2021-0016 Resolving-System kostenfrei GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_95 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_161 GBV_ILN_170 GBV_ILN_206 GBV_ILN_213 GBV_ILN_230 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_2014 GBV_ILN_4012 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4249 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4335 GBV_ILN_4338 GBV_ILN_4367 GBV_ILN_4700 GBV_ILN_2403 GBV_ILN_2403 ISIL_DE-LFER AR 17 2023 1 2-20 26 01 0206 4348898065 x1z 06-07-23 2403 01 DE-LFER 436366858X 00 --%%-- --%%-- n --%%-- l01 08-08-23 2403 01 DE-LFER http://doi.org/10.1108/RAMJ-03-2021-0016 2403 01 DE-LFER https://www.emerald.com/insight/content/doi/10.1108/RAMJ-03-2021-0016/full/pdf?title=the-dual-circulation-development-model-of-china-background-and-insights |
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10.1108/RAMJ-03-2021-0016 doi (DE-627)1852055782 (DE-599)KXP1852055782 DE-627 ger DE-627 rda eng Javed, Saad Ahmed verfasserin (DE-588)1242603972 (DE-627)1772591092 aut The "Dual Circulation" development model of China background and insights Saad Ahmed Javed and Yu Bo, Liangyan Tao and Wenjie Dong 2023 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier DE-206 Open Access Controlled Vocabulary for Access Rights http://purl.org/coar/access_right/c_abf2 Purpose - Global supply chains experienced unprecedented changes in 2020 and the relationship between domestic and global markets needed adjustments considering the long-term impacts of the changes that are unfolding around these markets. China has become the first country to announce a formal strategy - "Dual Circulation" Strategy (DCS) - to guide its self-reliant economic development in the post-COVID era. However, what exactly is the DCS and what drove China to publicize this strategy is not yet clear. This study aims to answer these questions. Design/methodology/approach - Based on an extensive review of literature and media reports, a background has been constructed that justifies the DCS as a long-overdue historic necessity. Findings - A novel definition of "Dual Circulation" is introduced. A novel construct to visualize the domestic circulation in light of international and domestic markets and international circulation has been presented. The study argues that maintaining optimum levels of consumption and saving rates is crucial to the DCS’s success. Originality/value - The study pioneers the first scientific definition of the “Dual Circulation” that will pave way for future debate on the topic. Also, it is the first time an academic study on the DCS has been executed. DE-206 Namensnennung 4.0 International CC BY 4.0 cc https://creativecommons.org/licenses/by/4.0/legalcode Dual circulation (dpeaa)DE-206 Economics (dpeaa)DE-206 Consumption (dpeaa)DE-206 Sustainable development (dpeaa)DE-206 China (dpeaa)DE-206 Yu, Bo verfasserin (DE-588)1256856061 (DE-627)1801010838 aut Tao, Liangyan verfasserin (DE-588)1169671365 (DE-627)1035273942 (DE-576)512184100 aut Dong, Wenjie verfasserin (DE-588)1284563758 (DE-627)1840224606 aut Enthalten in Rajagiri management journal Bingley, United Kingdom : Emerald Publishing, 2019 17(2023), 1, Seite 2-20 Online-Ressource (DE-627)1757868356 (DE-600)3064235-8 2633-0091 nnns volume:17 year:2023 number:1 pages:2-20 https://www.emerald.com/insight/content/doi/10.1108/RAMJ-03-2021-0016/full/pdf?title=the-dual-circulation-development-model-of-china-background-and-insights Verlag kostenfrei http://doi.org/10.1108/RAMJ-03-2021-0016 Resolving-System kostenfrei GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_95 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_161 GBV_ILN_170 GBV_ILN_206 GBV_ILN_213 GBV_ILN_230 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_2014 GBV_ILN_4012 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4249 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4335 GBV_ILN_4338 GBV_ILN_4367 GBV_ILN_4700 GBV_ILN_2403 GBV_ILN_2403 ISIL_DE-LFER AR 17 2023 1 2-20 26 01 0206 4348898065 x1z 06-07-23 2403 01 DE-LFER 436366858X 00 --%%-- --%%-- n --%%-- l01 08-08-23 2403 01 DE-LFER http://doi.org/10.1108/RAMJ-03-2021-0016 2403 01 DE-LFER https://www.emerald.com/insight/content/doi/10.1108/RAMJ-03-2021-0016/full/pdf?title=the-dual-circulation-development-model-of-china-background-and-insights |
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Purpose - Global supply chains experienced unprecedented changes in 2020 and the relationship between domestic and global markets needed adjustments considering the long-term impacts of the changes that are unfolding around these markets. China has become the first country to announce a formal strategy - "Dual Circulation" Strategy (DCS) - to guide its self-reliant economic development in the post-COVID era. However, what exactly is the DCS and what drove China to publicize this strategy is not yet clear. This study aims to answer these questions. Design/methodology/approach - Based on an extensive review of literature and media reports, a background has been constructed that justifies the DCS as a long-overdue historic necessity. Findings - A novel definition of "Dual Circulation" is introduced. A novel construct to visualize the domestic circulation in light of international and domestic markets and international circulation has been presented. The study argues that maintaining optimum levels of consumption and saving rates is crucial to the DCS’s success. Originality/value - The study pioneers the first scientific definition of the “Dual Circulation” that will pave way for future debate on the topic. Also, it is the first time an academic study on the DCS has been executed. |
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Purpose - Global supply chains experienced unprecedented changes in 2020 and the relationship between domestic and global markets needed adjustments considering the long-term impacts of the changes that are unfolding around these markets. China has become the first country to announce a formal strategy - "Dual Circulation" Strategy (DCS) - to guide its self-reliant economic development in the post-COVID era. However, what exactly is the DCS and what drove China to publicize this strategy is not yet clear. This study aims to answer these questions. Design/methodology/approach - Based on an extensive review of literature and media reports, a background has been constructed that justifies the DCS as a long-overdue historic necessity. Findings - A novel definition of "Dual Circulation" is introduced. A novel construct to visualize the domestic circulation in light of international and domestic markets and international circulation has been presented. The study argues that maintaining optimum levels of consumption and saving rates is crucial to the DCS’s success. Originality/value - The study pioneers the first scientific definition of the “Dual Circulation” that will pave way for future debate on the topic. Also, it is the first time an academic study on the DCS has been executed. |
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Purpose - Global supply chains experienced unprecedented changes in 2020 and the relationship between domestic and global markets needed adjustments considering the long-term impacts of the changes that are unfolding around these markets. China has become the first country to announce a formal strategy - "Dual Circulation" Strategy (DCS) - to guide its self-reliant economic development in the post-COVID era. However, what exactly is the DCS and what drove China to publicize this strategy is not yet clear. This study aims to answer these questions. Design/methodology/approach - Based on an extensive review of literature and media reports, a background has been constructed that justifies the DCS as a long-overdue historic necessity. Findings - A novel definition of "Dual Circulation" is introduced. A novel construct to visualize the domestic circulation in light of international and domestic markets and international circulation has been presented. The study argues that maintaining optimum levels of consumption and saving rates is crucial to the DCS’s success. Originality/value - The study pioneers the first scientific definition of the “Dual Circulation” that will pave way for future debate on the topic. Also, it is the first time an academic study on the DCS has been executed. |
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