Circular economy: Theoretical issues and international experience

Abstract

While most development theories have failed since they have focused more
on economic sustainability than on environmental and social sustainability (Schneider,
2014), the theory of the circular economy is approached systematically for incorporating
environmental concerns into economic development. This method illustrates a breakthrough
not only in terms of theory to integrate with economic activities and environmental welfare
under a sustainable approach, but also in the design of the circular economy model in
practice (Murray et al., 2015). This article reviews some theoretical issues on the essence of the
circular economy; analyses various experiences of circular economy development in China
and Germany; thereby, proposing policy implications for developing the model in Vietnam.