Chinas Global Political Economy

Is the US losing its economic authority to China, whose global economic identity is being determined more by entrepreneurial spirit than developmental principle? Through the exercise of soft power and hard currency in some areas of the global economy, China has clear national interest in the protection of intellectual property rights, financial integration and sovereign wealth funds. China’s Belt and Road Initiative and the Asian Infrastructure Investment Bank will set new standard to global economic development.

This IPE Classic considers one of the most pressing issues of the Twenty-First century: the relationship between domestic configurations of power and globalized production processes in shaping the process and implications of China's re-engagement with the global economy.

This book examines the processes, evolution and consequences of China’s rapid integration into the global economy. Through analyses of Beijing’s international economic engagement in areas such as trade, investment, finance, sustainable development and global economic governance, it highlights the forces shaping China’s increasingly prominent role in the global economic arena. Chapters explore China’s behavior in global economic governance, the interests and motivations underlying China’s international economic initiatives and the influence of politics, including both domestic politics and foreign relations, on the country’s global economic footprint.

This book takes a fresh look at Chinese political economy at a key inflection point. Facing a more competitive international environment, Chinese reform has shifted from its earlier focus on economic liberalization and political decentralization to a more tightly organized, centralized form of state socialism. The Party-state's vigorous fiscal reaction to the Global Financial Crisis (2008-2009) left the country with a much improved infrastructure and greater sense of national self-assurance. The more monocratic central leadership has redoubled efforts to fight poverty and pollution, push technological innovation, and at the same time rigorously enforce ideological consensus, political loyalty and anticorruption.This has been occurring in an international context of slowing trade and nationalist pushback against 'globalization', prominently including bilateral Chinese-American polarization. While China has been among the staunchest advocates and beneficiaries of globalization, incipient trade war 'decoupling' has spurred movement toward economic and technological self-reliance. Turning inward however vies with a rival impulse toward more vigorous engagement in the world. This is most consequentially represented by the Belt and Road Initiative, driving massive infrastructure construction through Central Asia and the South and Southeast Asian maritime periphery. Despite slowing growth and a large debt overhang, swift recovery from the Covid-19 epidemic leaves China in a relatively strong economic position.

Much has been written about China’s economy, as well as its business management system. China's Global Political Economy, however, is designed to bring together these two perspectives, serving to enhance our understanding of China’s growing global role. Examining changes in the management strategies of foreign companies investing in China and Chinese enterprises doing business overseas, this book analyses China’s political economy in the context of the Communist Party’s changing policies. The introductory section begins by studying the aspects of Chinese economic growth as it impacts on domestic social issues and the projection of Chinese power abroad. Within this overall framework, it then goes on to critically assess the effects of foreign investment, business management strategies, human resource management, corporate social responsibility and the financial services sector. Arguing that the encouragement of consumption is a significant objective of the Chinese leadership, the last section is concerned with the importance of the food industry. This book will be of interest to students and scholars of Chinese business, management and international political economy, as well as policymakers and business practitioners.

Since the beginning of China's phenomenal rise in the international system, our knowledge of the country has grown rapidly. But those who have debated the China issue in policy circles mostly focus on the implications of China’s rise, often without a firm understanding of why the country is rising in the first place. Using an analytical framework which links China’s domestic political economy order and the global system, this book helps us to understand China’s rise and the China model more clearly. Indeed, unlike most other works that study the China model as a domestic political economy issue, it adopts an explicit international comparative perspective, comparing the Chinese model to others, such as the Washington Consensus and the Japan model. This comparison allows us to break down different components of the China model, and to show that while the Chinese Communist Party leadership part of the model is unique, other components such as export-led growth strategy or packaged aid programs are not. By focusing on the root cause of China's rise - namely the loop between the evolving China model and an evolving global governance structure – this book reveals the degree of compatibility between the country’s profit-driven domestic political economy system and the post-war global economic order, and in turn how and why China has been able to rise in the global system. The China Model and Global Political Economy makes a key contribution to theories of international relations, state development and modernization, and as such will appeal to students and scholars of Chinese politics, Chinese foreign policy, international political economy, development studies and international relations.

This book examines the evolution of international political economy (IPE) as a field of study in China, detailing the evolving boundaries and the content of the field. It surveys how the key themes in IPE, such as the conceptualization of power at the global level, the question of international order and international organization, the state and globalization, money and finance, and the source of ideas and ideational innovation, have been debated in Chinese IPE in comparison to the foundational works of the West. The contributions map the genesis of the field inside China and the core characteristics of Chinese IPE, consider the limits of the development of the field in China, and identify the contributions which Chinese IPE can make to the global development of IPE. Each piece in this collection is co-authored by a prominent PRC scholar residing in China, and a distinguished ‘foreign’ scholar. The co-authors together highlight what they think are the core Chinese concerns of IPE in a particular area, and suggest what this understanding adds to the global discussion. This book was originally published as a special issue of the Review of International Political Economy.

This comprehensive, interpretive economic history presents the dramatic recent changes in China's approach to economic organization and development in an historical context.

1997 was truly an eventful year for China, with many momentous happenings. In February of that year Deng Xiaoping passed away, thus marking the end of an era. Shortly after, the post-Deng Chinese leadership under Jiang Zemin had to mobilise great efforts to ensure the smooth resumption of sovereignty over Hong Kong on June 30. This was then followed by intensive preparation for the holding of the 15th National Congress of the Chinese Communist Party in September, which set national priorities for China's medium- and long-term development as well as decided on the core team of younger leaders responsible for leading China into the 21st century.China is in the midst of great political, economic and social changes, which will intensify each other on account of their speed and scale. History has never before witnessed such a huge country as China industrialising and transforming itself so rapidly and so extensively.Accordingly, China's success or failure in its domestic development carries serious regional and international implications. There is still a great deal of uncertainty as to how soon in the next century China will become the world's most powerful economy. But what is happening in China today has already impinged on many aspects of life for people in the Asia-Pacific region, either in terms of growing trade and investment opportunities from China or in terms of regional security.This volume is largely based on public lectures and seminar papers by academic visitors and scholars at the East Asian Institute. Each has been written as a self-contained piece by a China expert, but presented primarily with non-specialist readers in mind.

Uses the framework of 'market in state', to argue that the Chinese economy is state-centered, dominated by political principles over economic principles.