Wei-Bin Zhang

Vikas Kumar

Evgeny Kuzmin

Yuliya Lavrikova

This book presents selected papers of the Euro-Asian Symposium on Economic Theory, held by the Institute of Economics of the Ural Branch of the Russian Academy of Sciences (Ekaterinburg, Russia) on June 29-30, 2022. The conference aims to promote research and develop effective solutions to urgent challenges in economic theory in the context of stability and uncertainty. The main theme of the 2022 Conference is the "Viability of Economic Theories". The chaos of the modern world forces us to rethink many theoretical positions. Researchers are trying to overcome the contradictions between theory and empiricism through new models, mechanisms and approaches. The challenges of recent social change have led to an adjustment in the perception, interpretation, and use of many concepts, necessitating an updating of these terms. The problems and contradictions identified in the studies will help to reconcile theoretical approaches with practice. The volume covers topics such as sustainable development issues, economic shocks in the history of economic thought, modern economic concepts of identity, theory of organizations under uncertainty, review of economic theories with the "Corona crisis," models of consumer behavior, business cycles, theory of investment, issues of economic growth and market equilibrium, impact of social factors on the sustainability of the economy, etc. Moveover, the volume presents new solutions for the synthesis of mainstream and political economy ideas. These topics will be of great interest to academics, researchers and practitioners.

Proceedings of the 2022 Euro-Asian Symposium on Economic Theory (EASET), Ekaterinburg, Russia

Consequences of Social Transformation for Economic Theory

This book examines the butterfly effect in China's modern economic development during the period of 1978–2018. In chaos theory, the butterfly effect refers to a phenomenon that a butterfly flaps its wings in Okinawa, and subsequently a storm may ravage New York. Deng applied a trivial idea, called the market mechanism, to China’s countryside in 1978. The idea has subsequently caused economic structural changes and fast growth in the economy with the largest population in human history. China’s per capita GDP jumped from $100 in 1978 to over US$8,000 in 2018. Eight hundred million people have made a great escape from poverty. By 2018, China was the world’s second-largest economy from its 10th position in 1978 with its 9 per cent average annual growth rate of GDP in the previous four decades. This illuminating book will be of value to economists, scholars of China, and historians.

From Socialist Penury Towards Marx’s Progressive Capitalism

The Butterfly Effect in China’s Economic Growth

Hong Kong has an urbanisation history of an interesting course -- from fishing village of the Qing dynasty under the Manchu rule, to British colony with 98 per cent of its population being Chinese, to global city with great wealth and business activities, to Communist China's Special Administrative Region (SAR) from 1 July 1997. China resumed sovereignty over Hong Kong and granted Hong Kong the right to self-government for at least 50 years, except over diplomatic and defense matters. Long before the return of Hong Kong to China, the colony had already firmly established itself as a regional business centre. It had been at the forefront of the East Asian economic 'miracle' between the 1970s and the mid 1990s. Lightened by multi-coloured neon signs of commercial advertisements, the semi-westernised Chinese city is more attractive in night than in daytime. Hong Kong is full of contrasts and paradoxes. The wide variety of the city's contrasting and yet fluid and interesting social and cultural images, aptly has been described as, 'east and west', local and colonial, modern and traditional, extravagant and frugal -- has earned it the epithet 'a cultural kaleidoscope'. The author explores these contrasts and paradoxes not only from economic, cultural, and social perspectives, but also from perspectives of non-linear theory and Adam Smith's and Confucian philosophies -- an endeavour which no other author has systematically made before.

The Pearl Made of British Mastery and Chinese Docile-diligence

Hong Kong

Kun Zhou

Jingquan Li

Development of Tools for Facilitating Smart Travel Choices Through Real-time Information

This book is part of a broad examination of Confucianism and its implications for modernization of the Confucian regions (covering mainland China, Taiwan, Hong Kong, Macau, Vietnam, Japan, South Korea, North Korea, and Singapore). It is mainly concerned with the industrialization and modernization of Taiwan. To help readers understand the process of modernization, the book provides an introduction to the history of Taiwan and to Confucianism and its modern implications. As far as social and economic principles are concerned, Taiwan's modernization is, according to the author, characterized by Americanization and modernizing Confucian manifestations. The book demonstrates that Taiwan has actually provided an important case study not only for the capitalist spirit of overseas Chinese, but also for possible implications of Confucianism for modernization. The unique character of this book is that in explaining Taiwan's modernization, it deals not only with economic and social issues, but also examines the philosophical foundations, an endeavor which no other author has systematically made before. Contents: History Before 1945Government and DemocratizationEducation, Science, and TechnologyThe Economic MiracleUncertain Future Readership: Researchers and graduates interested in Taiwan's history, industrialization and democratization, as well as the modernization of the Chinese. Keywords:Taiwan's Modernization;Americanization;Taiwan and Mainland China;Confucianism;Democratization in Taiwan

Americanization and Modernizing Confucian Manifestations

Taiwan's Modernization

This book is part of a broad study about Confucianism and its implications for modernisation of the Confucian regions (covering Mainland China, Taiwan, Hong Kong, Macao, Japan, South Korea, North Korea, Vietnam, and Singapore). The purpose of this book is to compare the ethical, social and economical principles advocated by Adam Smith and Confucius. Adam Smith is the most influential thinker in developed economies in modern times. Confucius was the most influential thinker in the Confucian regions before the West became influential in these regions. The book shows that it is important to compare the two great thinkers in order to understand whether or not Westernisation of the Confucian regions is sustainable and whether or not there will be 'clashes of civilisations' between the Confucian regions and the West.

Wei-Bin Zhang

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