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Chinesische Wirtschaft
Mrz 1st, 2017 by Gao

Thomas Piketty, Li Yang, Gabriel Zucman: Capital Accumulation, Private Property and Rising Inequality in China, 1978-2015 (PDF; World Wealth & Income Database)

This paper combines national accounts, survey, wealth and fiscal data (including recently released tax data on high-income taxpayers) in order to provide consistent series on the accumulation and distribution of income and wealth in China over the 1978-2015 period. We find that the aggregate national wealth-income ratio has increased, from 350% in 1978 to almost 700% in 2015. This can be accounted for by a combination of high saving and investment rates and a gradual rise in relative asset prices, reflecting changes in the legal system of property. The share of public property in national wealth has declined from about 70% in 1978 to less than 35% in 2015, which is still a lot higher than in rich countries (close to 0% or negative). Next, we provide sharp upward revision of official inequality estimates. The top 10% income share rose from 26% to 41% of national income between 1978 and 2015, while the bottom 50% share dropped from 28% to 15%. China’s inequality levels used to be close to Nordic countries, and are now approaching U.S. levels.

Cheng Enfu, Ding Xiaoqin: A Theory of China’s ‘Miracle’. Eight Principles of Contemporary Chinese Political Economy (Monthly Review)

China’s rapid economic development in recent years is often characterized as “miraculous.” Talk of a “Beijing Consensus” or “China model” has become commonplace in academic debates. But as we have written elsewhere, “theoretical problems have started to emerge with regards to the very existence, content, and prospects of the China model.” The key question, then, is what kind of economic theory and strategy underpin this “miracle.” China’s model has been variously described as a form of neoliberalism, or as a novel kind of Keynesianism. Against these positions, we hold that the country’s major recent developmental gains are the achievements of theoretical advances in political economy, originating in China itself, while the main problems that have accompanied China’s development reflect the damaging influence of Western neoliberalism. President Xi Jinping has emphasized the need to uphold and develop a Marxian political economy for the twenty-first century, adapted to China’s needs and resources.

Sit Tsui, Erebus Wong, Lau Kin Chi, Wen Tiejun: The Tyranny of Monopoly-Finance Capital. A Chinese Perspective (Monthly Review)

The tyranny of global monopoly-finance capital can be seen in part as monetary geopolitics backed by military power. Through investment schemes, it directly appropriates the production gains made by the physical and resource economies of developing countries. At the same time, it engages in financial speculation by buying long and selling short in capital markets. The end result is the plundering of social wealth. China is not immune to this tyranny. This article analyzes the causes and effects of China’s financial crises, which are in large part the fallout of crises occurring outside China. Crucial here is uncovering how financial capital–both domestic and foreign–has become alienated from the physical economy and “de-localized” in its pursuit of profits.

Erebus Wong, Lau Kin Chi, Sit Tsui, Wen Tiejun: One Belt, One Road. China’s Strategy for a New Global Financial Order (Monthly Review)

In late 2013, Chinese premier Xi Jinping announced a pair of new development and trade initiatives for China and the surrounding region: the “Silk Road Economic Belt” and the “Twenty-First-Century Maritime Silk Road,” together known as One Belt, One Road (OBOR). Along with the Asian Infrastructure Investment Bank (AIIB), the OBOR policies represent an ambitious spatial expansion of Chinese state capitalism, driven by an excess of industrial production capacity, as well as by emerging financial capital interests. The Chinese government has publicly stressed the lessons of the 1930s overcapacity crisis in the West that precipitated the Second World War, and promoted these new initiatives in the name of “peaceful development.” Nevertheless, the turn to OBOR suggests a regional scenario broadly similar to that in Europe between the end of the nineteenth century and the years before the First World War, when strong nations jostled one another for industrial and military dominance. The OBOR strategy combines land power and maritime power, bolstering China’s existing oceanic hegemony in East Asia.

„Umweltkultur“ und Getreideproduktion
Nov 12th, 2014 by Gao

Zhihe Wang, Huili He, Meijun Fan: The Ecological Civilization Debate in China (Monthly Review)

China is facing many serious environmental issues, including pollution in the air, groundwater, and soil. These problems have increased since China surpassed Japan as the world’s second-largest economy—and in spite of the Chinese government’s 2007 proposal to build an “ecological civilization,” and writing “ecological civilization” into the Chinese Communist Party’s (CCP) constitution in 2012.

Zhun Xu, Wei Zhang, Minqi Li: China’s Grain Production. A Decade of Consecutive Growth or Stagnation? (Monthly Review)

Some progressive writers have argued that while China’s agricultural privatization achieved short-term gains, it did so by undermining long-term production facilities such as the infrastructure and public services built in the socialist era. Environmental scholars have questioned the sustainability of the Chinese agriculture. In a report published in 1995, Lester R. Brown raised the question: “Who will feed China?” He argued that the Chinese population’s changing diet, shrinking cropland, stagnating productivity, and environmental constraints would lead to a widening gap between China’s food supply and demand, a gap the world’s leading grain exporters would not be able to fill.

Ältere Artikel:
Zhihe Wang: Ecological Marxism in China (Monthly Review)
Wen Tiejun, Lau Kinchi, Cheng Cunwang, Huili He, Qiu Jiansheng: Ecological Civilization, Indigenous Culture, and Rural Reconstruction in China (Monthly Review)
Zhihe Wang, Meijun Fan, Hui Dong, Dezhong Sun, Lichun Li: What Does Ecological Marxism Mean For China? Questions and Challenges for John Bellamy Foster (Monthly Review)

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