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The Rise of China and the Demise of the Capitalist World Economy Paperback – March 1, 2009
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-—David M. Kotz,University of Massachusetts, Amherst
"Li has accomplished something different and very important. He has placed the ‘rise of China’ from the Mao era to today in the context of the history of the entire world-system. He makes a persuasive case."
-—Immanuel Wallerstein,Yale University
About the Author
Minqi Li is Assistant Professor of Economics at the University of Utah. He became an adherent of radical economics as a political prisoner in China from 1990-1992 and began an intensive study of China’s economy and its role in the world capitalist system upon his release.
Top Customer Reviews
"Chinese socialism was the historical product of a great revolution, which was based on the broad mobilization and support of the workers and peasants comprising the great majority of the population. As a result, it would necessarily reflect the interests and aspirations of ordinary working people. On the other hand, China remained a part of the capitalist world-economy, and was under constant and instance pressure of military and economic competition against other big powers. To mobilize resources for capital accumulation, surplus product had to be extracted from the workers and peasants and concentrated in the hands of the state. This in turn created opportunities for the bureaucratic and technocratic elites to make use of their control over the surplus product to advance their individual power and interests rather than the collective interest of the working people. This was the basic historical contradiction that confronted Chinese socialism as well as other socialist states in the twentieth century."
The author, Minqi Li, was a member of the student dissident movement of the 80s in China. He describes the milieu during which he studied neoclassical economics at Beijing University: "The 1980s was a decade of political and intellectual excitement in China.Read more ›
The problem posed specifically within the framework of Marxist "world systems" theory is that capitalism always depends on looking for the cheapest labour and has moved from place to place in the search for the cheapest labour. The last major viable reserve of labour was China which global capitalism began to exploit from the 1980's onwards.Read more ›
Minqi Li (Monthly Review Press 2008)
Review by Lucia Green-Weiskel
originally published in Global Politics:
Is China the beacon of an alternative model country?
As a 1989 Tiananmen Square veteran, author Minqi Li risked his own life to defend free market democracy twenty years ago. Now, after seeing the impact of free markets on the quality of life for working people around the world, Li has become a Maoist/Marxist. Li is not ambiguous or ambivalent. He concludes: "A socialist world-government with global democratic planning will offer the best hope for humanity to survive the coming catastrophes and preserve the most important accomplishments of human civilization."
Li, an economics professor at the University of Utah, presents a China that is on the rise - although not as a military menace, but instead as the beacon of an alternative model country and one that will be asked to "provide system-level solutions to the system-level problems left behind by the US hegemony." Up until now, Communist China through its export-led economic growth has merged with and indeed played a key role in the global system of US-led capitalism. Now, as this system is in a state of demise, argues the book, China as a rising power will have to redefine itself in this new climate.
But there is a problem: Li doesn't see the leadership in China as quite up to the task. "Given the rules of the capitalist world economy," he writes, "can we count on the Chinese capitalist elites ... to act in accordance with human's long-term common interest?Read more ›
Most Recent Customer Reviews
Very clearly written and supported by facts. I would argue that after China and India are incorporated fully into Capitalist World Economy, the most of Africa and many parts of... Read morePublished 19 months ago by Amlan Kundu
The author, an assistant professor at a so-so university in Utah, treats as holy writ Wallerstein's tattered and marginal hypothesis that the so-called "world system of global... Read morePublished on March 16, 2013 by Harvy Lind
The book is well written, but I have some fundamental issues with the theoretical approach. It's quite interesting to see another point of view though.Published on February 4, 2013 by P.S.
From the title of the book my expectation was that Minqi Li's book was going to tout the emergence of China as a capitalist power, and the role it would play in the ultimate demise... Read morePublished on April 26, 2011 by Joseph Pawlak
Minqi Li a professor of economics currently teaching at the University of Utah, recently wrote a provocative book about the collapse of the world capitalist system. Read morePublished on January 11, 2011 by bernard Bortnick
I read this book last year and it is still the most influential book that I have ever encountered. I can make great use of this book for my graduate study in Honolulu.Published on January 21, 2010 by Jet Heng
Last november I ordered (directly from Amazon)The Rise of China and the Demise of the Capitalist World-Economy". Read morePublished on July 5, 2009 by S. Johnson
The book makes sweeping statements based on common knowledge. The author falls into the delusion that China is somehow an economic superpower without due regard to her inherent... Read morePublished on June 30, 2009 by Roaming Ranger
Over a billion people call the People's Republic of China home, and the communist principles that the government once held so dear have loosened greatly. Read morePublished on May 15, 2009 by Midwest Book Review