| ID | 127596 |
| Title Proper | Paradoxes of prosperity in China's new capitalism |
| Language | ENG |
| Author | Ten Brink, Tobias |
| Publication | 2013. |
| Summary / Abstract (Note) | This article gives a broad characterization of China`s political economy, as well as specific aspect of its socio-economic instabilities. With a focus on China`s export-oriented industry sectors, concept from comparative and international political economy are applied to show how the Chinese economy can be understood as a variegated from the state permeated capitalism that at the same time is deeply integrated into world economic processes. The article goes on to portray the socio-economic dynamics, as well as the instabilities of China's new capitalism, that are at the root of the state leadership's attempts to turn away from a one-side model of export and investment-driven growth. Thereby, a number of obstacles are revealed for the "rebalancing" of the economy: a continued dependence on exports, a lack of domestic consumer demand which impedes a significant "social upgrading, the ongoing low-wage model for which there is no end in sight, there limits of the state's steering capacity and the weaknesses of its fragmented, competition driven structure. |
| `In' analytical Note | Journal of Current Chinese Affairs Vol.42, No.4; 2013: p.17-44 |
| Journal Source | Journal of Current Chinese Affairs Vol.42, No.4; 2013: p.17-44 |
| Key Words | China ; Economics ; Capitalism ; Economic development ; State policies ; Political economy ; Socio economic instability ; Leadership ; Export ; Low wage |