The Research On Harmonious Development Between Fictitious Economy And Real Economy Of China Under The Globalization Background

This thesis, based on connotation of fictitious economy, elaborates on the interactionbetween fictitious economy and real economy in the context of globalization, andfurther expands the study scope of fictitious and real economy. Then, in theframework of the theory, this paper further analyzes the way to promote theinternational industrial transfer and reorganization of resources in developed countrieson their way of virtualization. Furthermore, the paper analyzes disadvantaged positionof developing countries, like China, in the non-balanced development of the currentworld economy.In order to further the conclusion and therefore to serve our fictitious and realeconomy better, we empirically analyze impact of American “financial tsunami” onChina’s economy. The empirical analysis is divided into two stages. First, we look forthe deep causes of the U.S.“financial tsunami” by measuring the degree ofcoordination of the fictitious and real economy in the United States with thecoordination model. On the following stage, we make use of the SVAR model toanalyze the financial tsunami impact on China’s economy. The results show that theoccurrence of the “financial tsunami” is closely related to its deviated fictitious andreal economy; and that through trade transmission channels, the impact of the U.S.“financial tsunami” on China’s economic development is increasingly significant.Finally, according to conclusions drawn from the research, three politicalrecommendations are made. First, the Government can expand domestic demand andreduce dependence on developed countries trade, thereby reducing the financial crisis’impact of developed countries on the real economy in China. Second, in theinteraction of global fictitious economy and real economy, China must developfictitious capital, and attach great importance to the reconstruction of mechanism ofindustrial upgrading of national industry value chain as well as capabilityimprovement of independent innovation among China’s enterprises. Thirdly, in thetime of highly developing fictitious economy and current serious gap betweenfictitious and real economy, Government should pay much attention to financialinnovation and prudently choose financial instruments.