China and the Transformation of Global Capitalism

With one of the world's fastest—growing economies and a population quickly approaching two billion, China holds substantial sway over global financial, social, and cultural networks. This volume explains China's economic rise and liberalization and assesses how this growth is reshaping the structure and dynamics of global capitalism in the twenty—first century.China has historically been the center of Asian trade, economic, and financial networks, and its global influence continues to expand in the twenty—first century. In exploring the causes for and effects of China's resurging power, this volume takes a broad, long—term view that reaches well beyond economics for answers. Contributors explore the vast web of complex issues raised by China's ascendancy.The first three chapters discuss the global and historical origins of China's shift to a market economy and that transformation's impact on the international market system. Subsequent essays explore the ability of large Chinese manufacturers to counter the might of transnational retailers, the effect of China's rise on world income distribution and labor, and the consequences of a stronger China for its two most powerful neighbors, Russia and Japan. The concluding chapter questions whether China's growth is sustainable and if it will ultimately shift the center of global capitalism from the West to the East.This cutting—edge collection of works by leading global political economists links current events to long—term trends in global capitalist development to provide a comprehensive analysis of China's impact on the world. Scholars of China, world systems and globalization, international relations, and political economy will find this assessment worthy of study and an important starting point for further research.''China and the Transformation of Global Capitalism is most timely, as controversy over the rise of China as an economic powerhouse and military threat to the United States is one of the most salient topics in current macro social science and policy analysis. It advances highly useful perspectives, especially for the short— and medium—term future, and will be recognized as a major contribution.'' -- Walter F. Goldfrank, University of California, Santa Cruz