Rise of China and the global overaccumulation crisis

The Dark Side of Chinese Growth: Declining Social Capital and Well-Being in Times of Economic Boom

“…This may be connected to the income redistribution policies launched by the State Council in the aftermath of the Asian financial crisis of 1997-98 to support domestic demand. These policies were further reinforced by Hu Jintao after the change in leadership in 2002 (Hung, 2008;Steele & Lynch, 2013b). The interruption of the upsurge of income inequality (see Figure 13) may reflect such policy changes.…”

Sectoral Interests and Global Money: Renminbi, Dollars and the Domestic Foundations of International Currency Policy

“…To be sure, China presents an exceptional case for a sectorally-focused analysis to examine because, on the one hand, decision-making is concentrated in the insular executive branch of the central government-the State Council-and on the other hand, the nature of factional politics within the Chinese Communist Party makes analysis of sectoral interests qualitatively different from that in liberal democracies (Shih 2008). But other analysts have highlighted the importance of sectoral interests in Chinese foreign economic policymaking (Hung 2008;Schwartz 2009). Moreover, as we noted at the outset, our goal is not to explain how influential sectoral interests actually are in determining IC policy, but rather to anticipate their preferences and patterns of lobbying.…”

Intrastate Dynamics in the Context of Hegemonic Decline: A Case Study of China’s Arms Transfer Regime

“…As some scholars have pointed out, despite China's drastic economic development over the last three decades, its capital accumulation regime has recently experienced several structural problems in terms of its sustainability. China's export-dependent economy has internalized the global crisis of over-accumulation and falling profits (Hung 2008). Without a robust domestic market, Chinese investors have to look abroad for 13 The official roadmap and information of the "One Belt, One Road" project is available at http://en.xinfinance.com/html/OBAOR/ (2015).…”