To accelerate the establishment of a “dual circulation” development pattern in which domestic economic cycle plays a leading role while international economic cycle remains its extension and supplement is the internal requirement for China to face the new situation of international environmental changes and domestic development to enter a new stage. Now it is important to build a new development paradigm featuring dual circulation in China with a comparative vision of macro history. However, there are few studies on the interaction between domestic and international circulation in major countries from a historical perspective, especially research to compare which cycle patterns dominate in different historical periods and different economic sizes and the reasons. By analyzing changes in economic structure and international status before and after major historical events in China and the US, this paper sorts out the evolution paths of domestic and international circulation of them, and finds that the main line of economic development in China is to promote international circulation through domestic circulation. Before 1840, domestic circulation played an important role, and the tributary system defined the standard of international trade; between 1840 and 1949, it was passively drawn into international circulation; between 1949 and 1978, domestic circulation played an important role; between 1978 and 2018, it was initiatively drawn into the international circulation; since 2018, China entered a period in which the domestic circulation dominated. The main line of economic development in the US is to promote domestic circulation through international circulation. Between 1776 and 1860, international circulation played an important role; between 1776 and 1930s, domestic circulation played an important role; between 1933 and 2017, international circulation played an important role and the US led the General Agreement on Tariffs and Trade (GATT) and the WTO; since 2017, the domestic circulation played an important role. Now, probably for the first but not for the last time in history, China and the US enter a period in which domestic circulation plays an important role which influences international circulation profoundly. This paper expands on previous literature in the following two aspects. Firstly, from the perspective of history, it systematically sorts out the evolution path of economic circulation in China since ancient times and in the US since its independence. Secondly, it clarifies the dynamic adjustment process and interaction process of the domestic and international circulation at different stages, and studies the main circulation in each period. This paper shows the historical evolution of the domestic and international circulation in China and the US and provides empirical enlightenment for the theoretical and logical research on the new development pattern.
LIU Jinshan, DU Lin.
Domestic Circulation and International Circulation: The Difference of Dual Circulation Path between China and USA. Jinan Journal. 2024, 46(4): 151-164 https://doi.org/10.11778/j.jnxb.20231123