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ID:
175055
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| Summary/Abstract |
Currently, the world system is in a state of complex crisis and transformation. The overall influence of its US-led centre has weakened, and most of the global periphery is in either chaos or misery. The mechanisms of the global accumulation of capital prevent new global leaders from emerging. Until now, China’s economic ascent has been based on managed market forces and sovereign monetary policy. However, if the liberalisation of capital flows in China continues, the country’s financial independence might be lost. This article explains how the nodal crisis of global capitalism has evolved, how far the marketisation and financial liberalisation of the Chinese economy has gone and the largest obstacles to China further strengthening its influence on the world order. The author concludes that China could play a positive role as a new superpower in constructing a world beyond capitalism, if it does not give up the socialist project, keeps market forces under control, maintains accumulation without dispossession, preserves its financial independence and makes alliances with other nations on the global (semi-)periphery. The latter is particularly important, as the present hegemonic centre will not give up its position peacefully.
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| 2 |
ID:
189938
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| Summary/Abstract |
The China–Africa relationship has received increased interest over the past few decades as scholars critically examine the challenge that China, in its quest for a closer strategic partnership with Africa, poses to the norms governing the neoliberal world order (NLWO). One crucial aspect of this is international aid, and how Chinese aid to Africa differs from Western aid. This paper argues that Chinese aid reduces the power of traditional aid donors to shape the development route of African countries. This new development finance ultimately breaks the monopoly of Western aid to decide how poor countries in the global ‘South’ develop. In doing so, the Sino–African aid relationship is challenging the current world order as it offers African states the possibility to decouple (or delink) themselves from the global economy. By challenging assumed neoliberal economic development fundamentals, this relationship, if harnessed correctly by African leaders, can pose longer-term ideological questions around the very set of ideas that underpin development itself, while enabling African states the policy space needed to pursue more sustainable development from an Afro-centric perspective. It is this possibility to delink, due to changing ideological fundamentals concerning economic development, that is the challenge China and Africa pose to the NLWO.
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