阅江学刊2025，Vol.17Issue(3)：99-108,10.
基于实物与金融的国际循环模式比较
Comparison of International Circulation Patterns Based on Physical and Finance:Taking China,Germany,Britain,France,Japan,and the United States as Examples
摘要
Abstract
Adhering to the high level of opening up to the outside world and improving the quality and level of international circulation is one of the important tasks of accelerating the construction of a new development pattern and focusing on promoting high-quality development strategic planning.The paper examines the cyclic process of physical output and cross-border capital investment from the perspective of gross national income,and compares the international cycling patterns of six typical countries,namely,China,Germany,Britain,France,Japan and the United States,specifically from the three dimensions of the structure of value-added,the valuation effect of overseas assets,and the return on outward investment.It is found that China's international circulation pattern is characterized by a balanced but low level of internal and external demand,declining valuation of overseas assets,and a low net rate of return on outward investment,while the typical countries all have different degrees of advantages in certain dimensions.China should take into account its own characteristics,absorb and learn from proven development models and experiences,adhere to the bottom-line thinking of preventing and resolving risks,expand domestic demand and stabilize external demand,improve the appreciation capacity of overseas assets,improve the investment structure and promote the upgrading of the international circulation pattern.关键词
双循环/海外估值效应/对外投资/国际循环/内循环引用本文复制引用
王鹏举,陆江源..基于实物与金融的国际循环模式比较[J].阅江学刊,2025,17(3):99-108,10.基金项目
国家社会科学基金青年项目"消费与人力资本关联机制及其对创新效率影响研究"(20CJL032) （20CJL032）
国家社会科学基金重大项目"基于中国实践的经济增长理论创新研究"(22&ZD053). （22&ZD053）
