The 2016 Annual Conference of Hubei Province Foreign Economic Theory Research Society was Held Successfully

On September 24, the 2016 Annual Conference of Hubei Province Foreign Economic Theory Research Society was held in the Hubei University for Nationalities, this conference was hosted by the Hubei Province Foreign Economic Theory Research Society and organized by the Economic Development Research Center of Wuhan school, experts and scholars from more than 20 colleges and universities were invited to the conference.

Professor Yan Pengfei delivered an opening speech concerning General Secretary Xi Jinping’s speech "How to approach Marxism and western economics", and proposed to improve teaching materials on Western economics, strengthen theoretical self-confidence, cultural self-confidence and self-confidence of the Chinese path.

During the session, Professor Wang Jinchao of the School of Economics and Management of our university delivered a speech entitled “Rethinking the Comparative Advantage Theory”, expounding on the methodological features of the closed system of comparative advantage theory, and the realistic possibility that free trade could make it worse for the welfare of a country, and pointed out it is the absolute advantage rather than comparative advantage that determines the trade pattern.