Since modern times, one of the major regular phenomena in the rise and fall of great powers is that the rise in the growth of the real economy and fall in the decline of the real economy and the financialization of the economy. Further, the strength of the real economy of the Western powers is directly related to the two-sided nature of the capital accumulation mechanism: it is not only the power source of the rise of the real economy and national prosperity, but also the bane of the economic development being “separated from the real economy towards virtual economy” and the decline of the country. In the early period of capitalism, the capital gains from industrialization showed a trend of increasing Deng Panyi

　　From: Studies on Marxism.2024.No.5.