Virtual Economic Research, And The Real Economy

With the development of modem society, the fictitious economy and the real economy, as well as their relationship, become the important components of the modern economy, which develop and promote mutually, although being independent of each other. The fictitious economy is based on the real economy. From the introduction of it, especially from the late last century, the fictitious capital has been developing with high speed, followed by the securities and bonds market. With the aid of the fictitious capital and the securities and bonds market, many high-technology firms have sprouted in large amount in America and other countries. These firms expanded with high speed and intrigued the arrival of the so-called new economy. However, many officials and economists have paid more and more attention to the relationship between the fictitious economy and the real economy since the Southeast Asian Financial Crisis in July, 1997. With the arrival of the new century, the stock market in America began depressed, worsened by "9.11" and the financial scandals of several famous companies. It is beneficial for us to understand the development of the world economy to analyze the theoretical relationship between the fictitious economy and the real economy.The study of the fictitious economy is instructive not only for theory but also for reality. Therefore, when the report of the 16th conference of the CCP put forward the new industrialization path, we must deal with the relationships between the high-technology industry and the traditional industry, between the capital-intensive industry and the labor-intensive industry and between the fictitious economy and the real economy. That our economy was not affected and destroyed by the Southeast Asian Financial Crisis does not mean that our securities and bonds market is constructed very well. With the reform going further, the fictitious capital in China will surely expand not only in amount but also in kinds and the securities and bonds market will develop with higher speed. With our entering WTO, the international capital will go into our securities and bonds market inevitably. Therefore, the fictitious capital and the fictitious economy will play a more and more important role in our economy. In such situation, it is crucial for us to harmonize the real economy with the fictitious economy to keep our securities and bonds market developing smoothly and to prevent the bubble economy.