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China’s Uneven and Combined Development: Studies in the Political Economy of Public Policy

Autor Steven Rolf
en Limba Engleză Paperback – 16 oct 2021
This book mobilises the theory of uneven and combined development to uncover the geopolitical economic drivers of China’s rise. The purpose is to explain the formation and trajectory of its economic ‘accumulation system’ — which remains a confounding hybrid of statist and neoliberal forms of capitalism — as the outcome of China’s geopolitical engagement of the USA during the late stages of the Cold War, and its participation in manufacturing global production networks (GPNs). Fear of geopolitical catastrophe drove China to open its economy, while GPNs enabled China to generate substantial export surpluses which could be recycled through state-owned banks as cheap credit and subsidies to large, vertically integrated and politically-controlled state-owned enterprises. In this way, a synergy emerged between the ‘neoliberal’ and ‘Keynesian-Fordist’ sectors of the economy, while the national-territorial state retained its form and expanded its functions. The book chronicles how this reliance on export surpluses, however, rendered China extremely vulnerable to external shocks — prompting a dramatic monetary and fiscal stimulus response to the crisis of 2008, even while sustaining the illusion of economic ‘decoupling’ from the global economy. Finally, it examines the growing role of the state in the current crisis-ridden economic model, as well as China’s current geoeconomic and geopolitical expansionism in areas such as the Belt and Road Initiative and the militarisation of the East and South China Seas.
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Specificații

ISBN-13: 9783030555610
ISBN-10: 3030555615
Pagini: 264
Ilustrații: XVII, 264 p. 13 illus., 12 illus. in color.
Dimensiuni: 148 x 210 mm
Greutate: 0.37 kg
Ediția:1st ed. 2021
Editura: Springer International Publishing
Colecția Palgrave Macmillan
Seria Studies in the Political Economy of Public Policy

Locul publicării:Cham, Switzerland

Cuprins

Chapter 1: Introduction: China shakes the world-system.- Chapter 2: Uneven and combined development and the capitalist states-system.- Chapter 3: From varieties of capitalism to uneven and combined development: a new perspective.- Chapter 4: China’s boom (I): The geopolitical economy of reform and opening, 1978-2000.- Chapter 5: China’s boom (II): Making the ‘leap’, 2001-2008.- Chapter 6: The ‘rebalancing’ fallacy: 2008 and its aftermath.- Chapter 7: The state resurgent.- Chapter 8: Conclusion: China cracks the whip: The externalisation of China’s political economy


Notă biografică

Steven Rolf is ESRC Research Fellow at the Digital Futures at Work Research Centre, based at the University of Sussex, UK. He has previously worked at the University of Bristol, Aston University, and Birkbeck, University of London. He has also held visiting positions at City University Hong Kong and UCLA, USA. 

Textul de pe ultima copertă

This book mobilises the theory of uneven and combined development to uncover the geopolitical economic drivers of China’s rise. The purpose is to explain the formation and trajectory of its economic ‘accumulation system’ — which remains a confounding hybrid of statist and neoliberal forms of capitalism — as the outcome of China’s geopolitical engagement of the USA during the late stages of the Cold War, and its participation in manufacturing global production networks (GPNs). Fear of geopolitical catastrophe drove China to open its economy, while GPNs enabled China to generate substantial export surpluses which could be recycled through state-owned banks as cheap credit and subsidies to large, vertically integrated and politically-controlled state-owned enterprises. In this way, a synergy emerged between the ‘neoliberal’ and ‘Keynesian-Fordist’ sectors of the economy, while the national-territorial state retained its form and expanded its functions. The book chronicles how this reliance on export surpluses, however, rendered China extremely vulnerable to external shocks — prompting a dramatic monetary and fiscal stimulus response to the crisis of 2008, even while sustaining the illusion of economic ‘decoupling’ from the global economy. Finally, it examines the growing role of the state in the current crisis-ridden economic model, as well as China’s current geoeconomic and geopolitical expansionism in areas such as the Belt and Road Initiative and the militarisation of the East and South China Seas.


Steven Rolf is ESRC Research Fellow at the Digital Futures at Work Research Centre, based at the University of Sussex, UK. He has previously worked at the University of Bristol, Aston University, and Birkbeck, University of London. He has also held visiting positions at City University Hong Kong and UCLA, USA. 

Caracteristici

Outlines how China’s participation in manufacturing global production networks was shaped by geopolitical conflict and strategy Chronicles how China’s reliance on export surpluses prompted a dramatic monetary and fiscal stimulus response to the crisis of 2008 Examines the current crisis-ridden economic model and geoeconomic and geopolitical activities such as the Belt and Road Initiative and the militarisation of the East and South China Seas