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The rise of China and the demise of the capitalist world-economy

Author: Minqi Li
Publisher: New York : Monthly Review Press, ©2008.
Edition/Format:   Print book : EnglishView all editions and formats
Summary:
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  Read more...
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Additional Physical Format: Online version:
Li, Minqi.
Rise of China and the demise of the capitalist world-economy.
New York : Monthly Review Press, ©2008
(OCoLC)747305586
Material Type: Internet resource
Document Type: Book, Internet Resource
All Authors / Contributors: Minqi Li
ISBN: 9781583671832 1583671838 9781583671825 158367182X
OCLC Number: 237199083
Description: xix, 208 pages : illustrations ; 22 cm
Contents: Introduction: China and the capitalist world-economy --
Accumulation, basic needs, and class struggle: the rise of modern China --
China and the neoliberal global economy --
Can the capitalist world-economy survive the rise of China? --
Profit and accumulation: systemic cycles and secular trends --
The end of the endless accumulation --
Between the realm of necessity and the realm of freedom: historical possibilities of the twenty-first century.
Responsibility: Minqi Li.
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Abstract:

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.

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"Li has accomplished something different and very important. He has placed the 'rise of China' from the Mao era to today in the context of the history of the entire world-system. He makes a Read more...

 
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