Breaking the Cycle? China’s Attempt to Institutionalize Center-local Relations

Wang, Yueduan; Hou, Sijie

doi:10.1080/10670564.2022.2030996

Cited by 5 publications

(1 citation statement)

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“…In McNally's (2020) view, China manages this by fusing neoliberal forces into a neo-state structure; such that the neo-state is "neo" in the sense that it is inclusive of some aspects of neoliberal market economics. The question in the Chinese historical context is how do we understand the rapid transition from decentered, fragmented political economic activity within China, to the more centralized statist control of China in the Xi Jinping era (Economy 2018;Heilmann 2018;Guo 2020;Naughton 2021;Wang and Hou 2022), within the context of neoliberal economics? The problem is that the answer to this question is not easy to provide as, in my view, the premise of the question is based on the assumption that there are concrete agents in the world that operate on the basis of neoliberal dynamics.…”

Section: Mcnally's Argumentmentioning

confidence: 99%

Cycles and Transformation

Birley

2023

JWSR

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This article offers a new analysis of China’s politico-economic system from a world-systems perspective. My basic argument is that the novelty of China’s system is not, as McNally (2020) argues, its hybrid fusion of neoliberal market dynamics with strong centralized political control. China’s real historical significance comes from the combination of a centralized, state controlled financial governance structure that is highly insulated from the control of outside actors situated within China’s large extended geo-space. I argue that China’s intense state control of economic reality, and especially its “internalization” of financial institutions within its state architecture, can be seen as an adaptive strategy that makes sense from the perspective of the long term development of governance within the capitalist system. I then conclude with observations around the possible consequences for established core powers of China’s structural separation and power in the financial realm.

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Section: Mcnally's Argumentmentioning

confidence: 99%