Author: R. Coase
Publisher: Springer
ISBN: 1137019379
Category : Business & Economics
Languages : en
Pages : 268
Book Description
How China Became Capitalist details the extraordinary, and often unanticipated, journey that China has taken over the past thirty five years in transforming itself from a closed agrarian socialist economy to an indomitable economic force in the international arena. The authors revitalise the debate around the rise of the Chinese economy through the use of primary sources, persuasively arguing that the reforms implemented by the Chinese leaders did not represent a concerted attempt to create a capitalist economy, and that it was 'marginal revolutions' that introduced the market and entrepreneurship back to China. Lessons from the West were guided by the traditional Chinese principle of 'seeking truth from facts'. By turning to capitalism, China re-embraced her own cultural roots. How China Became Capitalist challenges received wisdom about the future of the Chinese economy, warning that while China has enormous potential for further growth, the future is clouded by the government's monopoly of ideas and power. Coase and Wang argue that the development of a market for ideas which has a long and revered tradition in China would be integral in bringing about the Chinese dream of social harmony.
How China Became Capitalist
Author: R. Coase
Publisher: Springer
ISBN: 1137019379
Category : Business & Economics
Languages : en
Pages : 268
Book Description
How China Became Capitalist details the extraordinary, and often unanticipated, journey that China has taken over the past thirty five years in transforming itself from a closed agrarian socialist economy to an indomitable economic force in the international arena. The authors revitalise the debate around the rise of the Chinese economy through the use of primary sources, persuasively arguing that the reforms implemented by the Chinese leaders did not represent a concerted attempt to create a capitalist economy, and that it was 'marginal revolutions' that introduced the market and entrepreneurship back to China. Lessons from the West were guided by the traditional Chinese principle of 'seeking truth from facts'. By turning to capitalism, China re-embraced her own cultural roots. How China Became Capitalist challenges received wisdom about the future of the Chinese economy, warning that while China has enormous potential for further growth, the future is clouded by the government's monopoly of ideas and power. Coase and Wang argue that the development of a market for ideas which has a long and revered tradition in China would be integral in bringing about the Chinese dream of social harmony.
Publisher: Springer
ISBN: 1137019379
Category : Business & Economics
Languages : en
Pages : 268
Book Description
How China Became Capitalist details the extraordinary, and often unanticipated, journey that China has taken over the past thirty five years in transforming itself from a closed agrarian socialist economy to an indomitable economic force in the international arena. The authors revitalise the debate around the rise of the Chinese economy through the use of primary sources, persuasively arguing that the reforms implemented by the Chinese leaders did not represent a concerted attempt to create a capitalist economy, and that it was 'marginal revolutions' that introduced the market and entrepreneurship back to China. Lessons from the West were guided by the traditional Chinese principle of 'seeking truth from facts'. By turning to capitalism, China re-embraced her own cultural roots. How China Became Capitalist challenges received wisdom about the future of the Chinese economy, warning that while China has enormous potential for further growth, the future is clouded by the government's monopoly of ideas and power. Coase and Wang argue that the development of a market for ideas which has a long and revered tradition in China would be integral in bringing about the Chinese dream of social harmony.
China’s Crony Capitalism
Author: Minxin Pei
Publisher: Harvard University Press
ISBN: 0674737296
Category : Business & Economics
Languages : en
Pages : 376
Book Description
China’s efforts to modernize yielded a kleptocracy characterized by corruption, wealth inequality, and social tensions. Rejecting conventional platitudes about the resilience of Party rule, Minxin Pei gathers unambiguous evidence that beneath China’s facade of ever-expanding prosperity and power lies a Leninist state in an advanced stage of decay.
Publisher: Harvard University Press
ISBN: 0674737296
Category : Business & Economics
Languages : en
Pages : 376
Book Description
China’s efforts to modernize yielded a kleptocracy characterized by corruption, wealth inequality, and social tensions. Rejecting conventional platitudes about the resilience of Party rule, Minxin Pei gathers unambiguous evidence that beneath China’s facade of ever-expanding prosperity and power lies a Leninist state in an advanced stage of decay.
Class And Class Conflict In Post-socialist China
Author: Alvin Y So
Publisher: World Scientific
ISBN: 9814449660
Category : Social Science
Languages : en
Pages : 213
Book Description
Class and Class Conflict in Post-Socialist China traces the origins and the profound changes of the patterns of class conflict in post-socialist China since 1978.The first of its kind in the field of China Studies that offers comprehensive overviews and traces the historical evolutions of different patterns of class conflict (among workers, peasants, capitalists, and the middle class) in post-socialist China, the book provides comprehensive overviews of different patterns of class conflict. It uses a state-centered approach to study class conflict, i.e., study how the communist party-state restructures the patterns of class conflict in Chinese society, and brings in a historical dimension by tracing the origins and developments of class conflict in socialist and post-socialist China.
Publisher: World Scientific
ISBN: 9814449660
Category : Social Science
Languages : en
Pages : 213
Book Description
Class and Class Conflict in Post-Socialist China traces the origins and the profound changes of the patterns of class conflict in post-socialist China since 1978.The first of its kind in the field of China Studies that offers comprehensive overviews and traces the historical evolutions of different patterns of class conflict (among workers, peasants, capitalists, and the middle class) in post-socialist China, the book provides comprehensive overviews of different patterns of class conflict. It uses a state-centered approach to study class conflict, i.e., study how the communist party-state restructures the patterns of class conflict in Chinese society, and brings in a historical dimension by tracing the origins and developments of class conflict in socialist and post-socialist China.
Unending Capitalism
Author: Karl Gerth
Publisher: Cambridge University Press
ISBN: 1108882641
Category : History
Languages : en
Pages : 397
Book Description
What forces shaped the twentieth-century world? Capitalism and communism are usually seen as engaged in a fight-to-the-death during the Cold War. With the establishment of the People's Republic of China in 1949, the Chinese Communist Party aimed to end capitalism. Karl Gerth argues that despite the socialist rhetoric of class warfare and egalitarianism, Communist Party policies actually developed a variety of capitalism and expanded consumerism. This negated the goals of the Communist Revolution across the Mao era (1949–1976) down to the present. Through topics related to state attempts to manage what people began to desire - wristwatches and bicycles, films and fashion, leisure travel and Mao badges - Gerth challenges fundamental assumptions about capitalism, communism, and countries conventionally labeled as socialist. In so doing, his provocative history of China suggests how larger forces related to the desire for mass-produced consumer goods reshaped the twentieth-century world and remade people's lives.
Publisher: Cambridge University Press
ISBN: 1108882641
Category : History
Languages : en
Pages : 397
Book Description
What forces shaped the twentieth-century world? Capitalism and communism are usually seen as engaged in a fight-to-the-death during the Cold War. With the establishment of the People's Republic of China in 1949, the Chinese Communist Party aimed to end capitalism. Karl Gerth argues that despite the socialist rhetoric of class warfare and egalitarianism, Communist Party policies actually developed a variety of capitalism and expanded consumerism. This negated the goals of the Communist Revolution across the Mao era (1949–1976) down to the present. Through topics related to state attempts to manage what people began to desire - wristwatches and bicycles, films and fashion, leisure travel and Mao badges - Gerth challenges fundamental assumptions about capitalism, communism, and countries conventionally labeled as socialist. In so doing, his provocative history of China suggests how larger forces related to the desire for mass-produced consumer goods reshaped the twentieth-century world and remade people's lives.
China's Capitalism
Author: Tobias ten Brink
Publisher: University of Pennsylvania Press
ISBN: 081229579X
Category : Political Science
Languages : en
Pages : 327
Book Description
Since 1978, the end of the Mao era, economic growth in China has outperformed every previous economic expansion in modern history. While the largest Western economies continue to struggle with the effects of the deepest recession since World War II, the People's Republic of China still enjoys growth rates that are massive in comparison. In the country's smog-choked cities, a chaotic climate of buying and selling prevails. Tireless expansion and inventiveness join forces with an attitude of national euphoria in which anything seems possible. No longer merely the "workshop of the world," China is poised to become a global engine for innovation. In China's Capitalism, Tobias ten Brink considers the history of the socioeconomic order that has emerged in the People's Republic. With empirical evidence and a theoretical foundation based in comparative and international political economy, ten Brink analyzes the main characteristics of China's socioeconomic system over time, identifies the key dynamics shaping this system's structure, and discusses current trends in further capitalist development. He argues that hegemonic state-business alliances mostly at the local level, relative homogeneity of party-state elites, the maintenance of a low-wage regime, and unanticipated coincidences between domestic and global processes are the driving forces behind China's rise. He also surveys the limits to the state's influence over economic and social developments such as industrial overcapacity and social conflict. Ten Brink's framework reveals how combinations of three heterogeneous actors—party-state institutions, firms, and workers—led to China's distinctive form of capitalism. Presenting a coherent and historically nuanced portrait, China's Capitalism is essential reading for anyone interested in the socioeconomic order of the People's Republic and the significant challenges facing its continuing development.
Publisher: University of Pennsylvania Press
ISBN: 081229579X
Category : Political Science
Languages : en
Pages : 327
Book Description
Since 1978, the end of the Mao era, economic growth in China has outperformed every previous economic expansion in modern history. While the largest Western economies continue to struggle with the effects of the deepest recession since World War II, the People's Republic of China still enjoys growth rates that are massive in comparison. In the country's smog-choked cities, a chaotic climate of buying and selling prevails. Tireless expansion and inventiveness join forces with an attitude of national euphoria in which anything seems possible. No longer merely the "workshop of the world," China is poised to become a global engine for innovation. In China's Capitalism, Tobias ten Brink considers the history of the socioeconomic order that has emerged in the People's Republic. With empirical evidence and a theoretical foundation based in comparative and international political economy, ten Brink analyzes the main characteristics of China's socioeconomic system over time, identifies the key dynamics shaping this system's structure, and discusses current trends in further capitalist development. He argues that hegemonic state-business alliances mostly at the local level, relative homogeneity of party-state elites, the maintenance of a low-wage regime, and unanticipated coincidences between domestic and global processes are the driving forces behind China's rise. He also surveys the limits to the state's influence over economic and social developments such as industrial overcapacity and social conflict. Ten Brink's framework reveals how combinations of three heterogeneous actors—party-state institutions, firms, and workers—led to China's distinctive form of capitalism. Presenting a coherent and historically nuanced portrait, China's Capitalism is essential reading for anyone interested in the socioeconomic order of the People's Republic and the significant challenges facing its continuing development.
Socialism with Chinese Characteristics
Author: Roland Boer
Publisher: Springer Nature
ISBN: 9811616221
Category : History
Languages : en
Pages : 323
Book Description
This book covers the whole system of Socialism with Chinese Characteristics, dealing with Deng Xiaoping’s theory, the socialist market economy, a moderately well-off (Xiaokang) society, China’s practice and theory of socialist democracy, human rights, and Xi Jinping’s Marxism. In short, the resolute focus is the Reform and Opening-Up. Socialism with Chinese Characteristics is one of the most important global realities today. However, the concept and its practice remain largely misunderstood outside China. This book sets to redress such a lack of knowledge, by making available to non-Chinese speakers the sophisticated debates and conclusions in China concerning socialism with Chinese Characteristics. It presents this material in a way that is both accessible and thorough.
Publisher: Springer Nature
ISBN: 9811616221
Category : History
Languages : en
Pages : 323
Book Description
This book covers the whole system of Socialism with Chinese Characteristics, dealing with Deng Xiaoping’s theory, the socialist market economy, a moderately well-off (Xiaokang) society, China’s practice and theory of socialist democracy, human rights, and Xi Jinping’s Marxism. In short, the resolute focus is the Reform and Opening-Up. Socialism with Chinese Characteristics is one of the most important global realities today. However, the concept and its practice remain largely misunderstood outside China. This book sets to redress such a lack of knowledge, by making available to non-Chinese speakers the sophisticated debates and conclusions in China concerning socialism with Chinese Characteristics. It presents this material in a way that is both accessible and thorough.
The Myth of Chinese Capitalism
Author: Dexter Roberts
Publisher: Macmillan + ORM
ISBN: 1250089387
Category : Political Science
Languages : en
Pages : 183
Book Description
The “vivid, provocative” untold story of how restrictive policies are preventing China from becoming the world’s largest economy (Evan Osnos). Dexter Roberts lived in Beijing for two decades working as a reporter on economics, business and politics for Bloomberg Businessweek. In The Myth of Chinese Capitalism, Roberts explores the reality behind today’s financially-ascendant China and pulls the curtain back on how the Chinese manufacturing machine is actually powered. He focuses on two places: the village of Binghuacun in the province of Guizhou, one of China’s poorest regions that sends the highest proportion of its youth away to become migrants; and Dongguan, China’s most infamous factory town located in Guangdong, home to both the largest number of migrant workers and the country’s biggest manufacturing base. Within these two towns and the people that move between them, Roberts focuses on the story of the Mo family, former farmers-turned-migrant-workers who are struggling to make a living in a fast-changing country that relegates one-half of its people to second-class status via household registration, land tenure policies and inequality in education and health care systems. In The Myth of Chinese Capitalism, Dexter Roberts brings to life the problems that China and its people face today as they attempt to overcome a divisive system that poses a serious challenge to the country’s future development. In so doing, Roberts paints a boots-on-the-ground cautionary picture of China for a world now held in its financial thrall. Praise for The Myth of Chinese Capitalism “A gimlet-eyed look at an economic miracle that may not be so miraculous after all.” —Kirkus Reviews “A clearheaded and persuasive counter-narrative to the notion that the Chinese economic model is set to take over the world. Readers looking for an informed and nuanced perspective on modern China will find it here.” —Publishers Weekly “A sophisticated and readable take of China’s triumphs and crises. . . . A first-hand witness to China’s transformation over the past quarter century, Roberts credibly challenges the myth of China’s inevitable rise and global dominance.” —Ian Johnson, Pulitzer Prize–winning author and Beijing-based correspondent “A potent mix of personal stories and deft analysis, The Myth of Chinese Capitalism takes a hard look at China’s migrants and rural people.” —Mei Fong, Pulitzer Prize–winning journalist and author of One Child: The Story of China’s Most RadicalExperiment
Publisher: Macmillan + ORM
ISBN: 1250089387
Category : Political Science
Languages : en
Pages : 183
Book Description
The “vivid, provocative” untold story of how restrictive policies are preventing China from becoming the world’s largest economy (Evan Osnos). Dexter Roberts lived in Beijing for two decades working as a reporter on economics, business and politics for Bloomberg Businessweek. In The Myth of Chinese Capitalism, Roberts explores the reality behind today’s financially-ascendant China and pulls the curtain back on how the Chinese manufacturing machine is actually powered. He focuses on two places: the village of Binghuacun in the province of Guizhou, one of China’s poorest regions that sends the highest proportion of its youth away to become migrants; and Dongguan, China’s most infamous factory town located in Guangdong, home to both the largest number of migrant workers and the country’s biggest manufacturing base. Within these two towns and the people that move between them, Roberts focuses on the story of the Mo family, former farmers-turned-migrant-workers who are struggling to make a living in a fast-changing country that relegates one-half of its people to second-class status via household registration, land tenure policies and inequality in education and health care systems. In The Myth of Chinese Capitalism, Dexter Roberts brings to life the problems that China and its people face today as they attempt to overcome a divisive system that poses a serious challenge to the country’s future development. In so doing, Roberts paints a boots-on-the-ground cautionary picture of China for a world now held in its financial thrall. Praise for The Myth of Chinese Capitalism “A gimlet-eyed look at an economic miracle that may not be so miraculous after all.” —Kirkus Reviews “A clearheaded and persuasive counter-narrative to the notion that the Chinese economic model is set to take over the world. Readers looking for an informed and nuanced perspective on modern China will find it here.” —Publishers Weekly “A sophisticated and readable take of China’s triumphs and crises. . . . A first-hand witness to China’s transformation over the past quarter century, Roberts credibly challenges the myth of China’s inevitable rise and global dominance.” —Ian Johnson, Pulitzer Prize–winning author and Beijing-based correspondent “A potent mix of personal stories and deft analysis, The Myth of Chinese Capitalism takes a hard look at China’s migrants and rural people.” —Mei Fong, Pulitzer Prize–winning journalist and author of One Child: The Story of China’s Most RadicalExperiment
China Rising
Author: Jeff J Brown
Publisher:
ISBN: 9780996487047
Category :
Languages : en
Pages :
Book Description
China Rising: Capitalist Roads, Socialist Destinations CHINA RISING, the latest book by the author of 44 Days Backpacking in China: The Middle Kingdom in the 21st Century, with the United States, Europe and the Fate of the World in Its Looking Glass, one of the most engaging political travelogues in recent memory, is a comprehensive, absorbing, eye-opening guide to China in the 21st century, a volume which in 700 pp packs it all: history, personal memory, sociology, political analysis. and above all a fair dose of invaluable first-hand information designed to detoxify the Western reader's mind from the constant lies served by the Western media in support of Washington's global imperial agenda. The result is a thorough rectification, a -deprogramming- of just about everything we, as Westerners, have been -taught- to believe about China, allowing us to see the Chinese people and their leaders as they really are-ordinary human beings just like us with dreams, foibles, defects and a proud history extending millennia, a people that in a century have overcome just about every scourge known to man: famines, massive drug addiction, civil wars, invasions, grinding poverty and humiliation, to become one of the great powers of this century, perhaps the greatest, and which today, much as a result of its success, is facing the undying hostility of the world's hegemon, the United States, itching for a confrontation to reassert imperial control. It is thus indispensable for Westerners and Asians to know the truth of the situation, what their governments are doing (led by the USA) behind their backs, if the planet is to be spared a nuclear conflict of incalculable horror.. For, as Brown indicates, China will not back down this time, and neither will Russia, her strategic ally, who faces the same type of constant harassment and bullying by the West, also for having the audacity to defend her sovereignty and set her own foreign policy course. The truth therefore must come out about key events, from the so-called -Tiananmen Massacre-, organized by the CIA, to who Mao Zedong really was and did, a role for which he earned the love of his countrymen to this day. It's a big job, but the author, an American fluent in Chinese, a teacher by profession, and with 15 years residence in the Middle Kingdom, and a cosmopolitan background, is eminently qualified to meet the task. Andre Vltchek, himself a truth-teller of distinction, and a man who, like Jeff Brown knows China well, has endorsed CHINA RISING as a unique instrument of mind liberation. Vltchek words are worth heeding: -The Western public should learn and remember one essential thing about China: no matter what European and North American propaganda barks about the People's Republic, China is much more -democratic- than the West. It is democratic in its own way. For thousands of years, it developed its own political system. Its rulers, no matter who they are, are given a conditional right to govern by the people. In the past, but even now it is called a -Heavenly Mandate-. If the rulers fail to respect the will of the people, they get deposed. And the Communist Party of China is greatly respectful of the desires of the majority of the Chinese people. When they want liberal reforms, they are delivered. When they want more Communism and an epic fight against corruption, like now, China's government immediately reacts. It is powerful and democratic, although it is a very specific and complex arrangement. And now, the Chinese people are outraged and they are sending clear signals to Beijing: -do not succumb to the West.- -If you do, our nation will suffer immensely, and the rest of the world will turn to ashes.- The fate of the world hangs in the balance and only truth can prevent a global catastrophe.
Publisher:
ISBN: 9780996487047
Category :
Languages : en
Pages :
Book Description
China Rising: Capitalist Roads, Socialist Destinations CHINA RISING, the latest book by the author of 44 Days Backpacking in China: The Middle Kingdom in the 21st Century, with the United States, Europe and the Fate of the World in Its Looking Glass, one of the most engaging political travelogues in recent memory, is a comprehensive, absorbing, eye-opening guide to China in the 21st century, a volume which in 700 pp packs it all: history, personal memory, sociology, political analysis. and above all a fair dose of invaluable first-hand information designed to detoxify the Western reader's mind from the constant lies served by the Western media in support of Washington's global imperial agenda. The result is a thorough rectification, a -deprogramming- of just about everything we, as Westerners, have been -taught- to believe about China, allowing us to see the Chinese people and their leaders as they really are-ordinary human beings just like us with dreams, foibles, defects and a proud history extending millennia, a people that in a century have overcome just about every scourge known to man: famines, massive drug addiction, civil wars, invasions, grinding poverty and humiliation, to become one of the great powers of this century, perhaps the greatest, and which today, much as a result of its success, is facing the undying hostility of the world's hegemon, the United States, itching for a confrontation to reassert imperial control. It is thus indispensable for Westerners and Asians to know the truth of the situation, what their governments are doing (led by the USA) behind their backs, if the planet is to be spared a nuclear conflict of incalculable horror.. For, as Brown indicates, China will not back down this time, and neither will Russia, her strategic ally, who faces the same type of constant harassment and bullying by the West, also for having the audacity to defend her sovereignty and set her own foreign policy course. The truth therefore must come out about key events, from the so-called -Tiananmen Massacre-, organized by the CIA, to who Mao Zedong really was and did, a role for which he earned the love of his countrymen to this day. It's a big job, but the author, an American fluent in Chinese, a teacher by profession, and with 15 years residence in the Middle Kingdom, and a cosmopolitan background, is eminently qualified to meet the task. Andre Vltchek, himself a truth-teller of distinction, and a man who, like Jeff Brown knows China well, has endorsed CHINA RISING as a unique instrument of mind liberation. Vltchek words are worth heeding: -The Western public should learn and remember one essential thing about China: no matter what European and North American propaganda barks about the People's Republic, China is much more -democratic- than the West. It is democratic in its own way. For thousands of years, it developed its own political system. Its rulers, no matter who they are, are given a conditional right to govern by the people. In the past, but even now it is called a -Heavenly Mandate-. If the rulers fail to respect the will of the people, they get deposed. And the Communist Party of China is greatly respectful of the desires of the majority of the Chinese people. When they want liberal reforms, they are delivered. When they want more Communism and an epic fight against corruption, like now, China's government immediately reacts. It is powerful and democratic, although it is a very specific and complex arrangement. And now, the Chinese people are outraged and they are sending clear signals to Beijing: -do not succumb to the West.- -If you do, our nation will suffer immensely, and the rest of the world will turn to ashes.- The fate of the world hangs in the balance and only truth can prevent a global catastrophe.
Is the East Still Red?
Author: Gary Blank
Publisher: John Hunt Publishing
ISBN: 1780997566
Category : History
Languages : en
Pages : 126
Book Description
Does China represent a non-capitalist alternative to neoliberal development models? Commentators on the left have offered sharply divergent assessments over the last two decades. A few still cling the old dream of market socialism, twinning efficiency with social justice. For most, however, China is proof that market reforms invariably yield dispossession, inequality, and capitalist restoration. Is the East Still Red? argues that both interpretations are wrong and exhibit a common failure to distinguish between market mechanisms and capitalist imperatives. Gary Blank situates the Chinese experience within broader Marxist debates on socio-historical transitions and primitive accumulation, highlighting the need to conceptualize capitalism as a unique system in which producers and appropriators depend on the market for their reproduction. Despite years of marketization, the mandarins in Beijing have not yet imposed full market dependence in industry and agriculture. He shows how the resistance of workers and peasants, the imperatives of party-state legitimacy, and the reproductive strategies of individual Communist officials and managers all act to perpetuate central aspects of a bureaucratic-collectivist system, in which direct producers and bureaucrats are effectively merged with the means of production. The People’s Republic may be a non-capitalist market alternative, albeit one that is hardly edifying for socialists.
Publisher: John Hunt Publishing
ISBN: 1780997566
Category : History
Languages : en
Pages : 126
Book Description
Does China represent a non-capitalist alternative to neoliberal development models? Commentators on the left have offered sharply divergent assessments over the last two decades. A few still cling the old dream of market socialism, twinning efficiency with social justice. For most, however, China is proof that market reforms invariably yield dispossession, inequality, and capitalist restoration. Is the East Still Red? argues that both interpretations are wrong and exhibit a common failure to distinguish between market mechanisms and capitalist imperatives. Gary Blank situates the Chinese experience within broader Marxist debates on socio-historical transitions and primitive accumulation, highlighting the need to conceptualize capitalism as a unique system in which producers and appropriators depend on the market for their reproduction. Despite years of marketization, the mandarins in Beijing have not yet imposed full market dependence in industry and agriculture. He shows how the resistance of workers and peasants, the imperatives of party-state legitimacy, and the reproductive strategies of individual Communist officials and managers all act to perpetuate central aspects of a bureaucratic-collectivist system, in which direct producers and bureaucrats are effectively merged with the means of production. The People’s Republic may be a non-capitalist market alternative, albeit one that is hardly edifying for socialists.
The Rise of China and the Demise of the Capitalist World Economy
Author: Minqi Li
Publisher: NYU Press
ISBN: 158367182X
Category : Business & Economics
Languages : en
Pages : 229
Book Description
In recent years, China has become a major actor in the global economy, making a remarkable switch from a planned and egalitarian socialism to a simultaneously wide-open and tightly controlled market economy. Against the establishment wisdom, Minqi Li argues in this provocative and startling book that far from strengthening capitalism, China’s full integration into the world capitalist system will, in fact and in the not too distant future, bring about its demise. The author tells us that historically the spread and growth of capitalist economies has required low wages, taxation, and environmental costs, as well as a hegemonic nation to prevent international competition from eroding these requirements. With the decline of the economic power of the United States, its current hegemonic role will deteriorate and the unprecedented growth of China will so erode the foundations of capital accumulation—by pushing wages and environmental costs up, for example—that the entire capitalist system will be shaken to its core. This is essential reading for those who still believe that there is no alternative.
Publisher: NYU Press
ISBN: 158367182X
Category : Business & Economics
Languages : en
Pages : 229
Book Description
In recent years, China has become a major actor in the global economy, making a remarkable switch from a planned and egalitarian socialism to a simultaneously wide-open and tightly controlled market economy. Against the establishment wisdom, Minqi Li argues in this provocative and startling book that far from strengthening capitalism, China’s full integration into the world capitalist system will, in fact and in the not too distant future, bring about its demise. The author tells us that historically the spread and growth of capitalist economies has required low wages, taxation, and environmental costs, as well as a hegemonic nation to prevent international competition from eroding these requirements. With the decline of the economic power of the United States, its current hegemonic role will deteriorate and the unprecedented growth of China will so erode the foundations of capital accumulation—by pushing wages and environmental costs up, for example—that the entire capitalist system will be shaken to its core. This is essential reading for those who still believe that there is no alternative.