By Minqi Li
China's expanding strength within the international financial system is destabilizing the validated method. This e-book analyses the prospective historic trajectories of China and the capitalist world-economy within the twenty-first century. Minqi Li examines the long run worldwide customers from the views of Marxism, world-system theories, and ecological limits to progress. He argues that China is probably going to exacerbate a few of the significant contradictions of worldwide capitalism, that could bring about the dying of the prevailing world-system.
This is an important textual content for college students of political economic system, economics and international politics.
Minqi Li used to be a political prisoner in China among 1990 and 1992. He teaches economics on the college of Utah and has additionally taught political technology at York college, Canada.
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Additional resources for The Rise of China and the Demise of the Capitalist World-Economy
Given the territorial size and population of China, it is only fair to compare China with large regions in the world rather than a few exceedingly performing small countries. If the official growth rate is used, then Maoist China’s growth performance was significantly better than the world average, as well as the averages of most of the world’s major regions. If Angus Maddison’s measure of the Chinese growth rate (which used price indices that significantly underestimated the contribution of the industrial sector to China’s growth) were to be used, then Maoist China performed about as well as the world average.
While rich peasants prospered, many poor peasants were forced to borrow money from their wealthier counterparts and some were forced to sell land in order to repay debts. The very small size of Chinese family farms prevented mechanization Li 01 chap01 27 20/8/08 11:13:26 28 The Rise of China and the Demise of the Capitalist World-Economy and economy of scale, and made the peasants vulnerable to natural disaster. At this early stage, important political differences had already surfaced among the Communist Party leadership.
Even during its best years, in the period of 1927–37 or the so-called “Nanjing Decade,” the Nationalist Government was only Li 01 chap01 10 20/8/08 11:13:22 China and the Capitalist World-Economy 11 able to effectively control the lower and middle range of the Yangtze Valley. After the 1927 counter-revolution, Guomindang and the Nationalist Government increasingly relied upon the gentry-landlord class and the comprador elements (that is, those with trade links) of the bourgeoisie as its social base, and soon degenerated into a corrupt, parasite, bureaucratic-capitalist clique.
The Rise of China and the Demise of the Capitalist World-Economy by Minqi Li