The Rise of China and the Demise of the Capitalist World-Economy
By Minqi Li. 2008
146 citations recorded by the source corpus.
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."
Subfields: Political Science and International Relations
View Paper: https://www.semanticscholar.org/paper/32f80625012571d8126551f7a6ead3c1670ca7ee
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In Political Science and International Relations
Citations in the corpus
- The end of the road?: agricultural revolutions in the capitalist World-ecology, 1450-2010 (2010, background): “The era’s greatest economic ‘miracle’ – the rise of China – has been supervised by a dirigiste state of the first order (Li 2008).”
- Accumulation by Conservation (2014, background): “Despite their attention to the environmental limits of accumulation, however, these analyses do not focus on conservation and what the ‘environment’ means in a potential phase beyond extraction and energy cycles (cf. Li 2008).”