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The academic paper "The Correlation between Virtual Economy and Real Economy -- A Comparative Study of Major Capitalist Countries", which was jointly completed by Professor Liu Xiaoxin and Dr. Tian Heng from the school of economics, was published in the top journal of social science, Social Science in China, in the 10th issue of 2021.

The virtual economy operates independently from the real economy, which has led to frequent financial crises in today's global economy. Marx's virtual capital theory reveals the capitalist economic law behind this phenomenon. This paper holds that the general law of self circulation of virtual economy is an independent operation mode in which capital is relatively divorced from the actual production process and increases by itself. Construct the input-output model of virtual economy and real economy, measure the forward and backward correlation degree of virtual economy to real economy, and analyze the influence of virtual economy self-circulation on GDP. The overall empirical analysis shows that the scale of self circulation of virtual economy in major capitalist countries is still expanding from 2001 to 2016, and the ability of self circulation of virtual economy to create GDP is enhanced. It is necessary to be highly vigilant against international financial risks.

Founded in 1980, Social Sciences in China is a comprehensive journal of philosophy and social sciences. It mainly publishes the frontier research results of philosophy and social sciences. And it is praised as the highest level comprehensive journal of humanities and social sciences in China by the academic community.

This paper is also the phased research result of the major project of the National Social Science Foundation, Research on the Emergency System of External Financial Shocks under in-depth Opening-up (Project No.: 20ZDA101), in which Professor Liu Xiaoxin is the chief expert.