Chinese Revolution and Development of the World Economy

Honkanen, Pertti

doi:10.13169/worlrevipoliecon.11.2.0171

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World Review of Political Economy

Volume 11, Issue 2

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Chinese Revolution and Development of the World Economy

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Author(s): Pertti Honkanen

Publication date (Print): 1 July 2020

Journal: World Review of Political Economy

Publisher: Pluto Journals

Keywords: China, economic growth, international trade, models of socialism, ecological problems

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Abstract

This paper considers China's economic development and place in the world economy. The People's Republic of China is becoming the most powerful country in the world in terms of GDP. Nowadays, China is an important partner in world trade both as an exporter and importer. Thus far, the United States has been the leading force in managing and coordinating the global economic and especially financial system, but now the economically advancing socialist China is a challenge to the USA. The Chinese model, socialism with Chinese characteristics, is discussed and compared with earlier stages of socialist construction, e.g. the NEP experiment of Soviet Union. The paper ends with notes about environmental and ecological problems, stressing the importance of socialist answers to these challenges. In this regard there are encouraging aspects in the current political program of the Chinese leadership.

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Journal

Journal ID (doi): 10.2307/j50005553

Journal ID (jcode): worlrevipoliecon

Title: World Review of Political Economy

Publisher: Pluto Journals

ISSN: 2042-891X

ISSN: 2042-8928

Publication date (Print): 1 July 2020

Volume: 11

Issue: 2 ( doiID: 10.13169/worlrevipoliecon.11.issue-2 )

Pages: 171-188

Article

Publisher ID: worlrevipoliecon.11.2.0171

DOI: 10.13169/worlrevipoliecon.11.2.0171

SO-VID: 33d1ad19-e53e-4d54-98be-926a05ad95d6

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ScienceOpen disciplines: Political economics

Keywords: models of socialism,China,economic growth,international trade,ecological problems

References

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Comments

Comment on this article

[1] Burkett, P. 1999. Marx and Nature: Red and Green Perspective. New York: St Martin's Press.

[2] Chen, H., and N. G. Iakovleva. 2019. “Marx in the XXI Century: Research and Teaching (International Context).” [In Russian.] Voprosy Filosofii, no. 2: 72–81.

[3] Cheng, E., and X. Ding. 2017. “The Theory of China's ‘Miracle': Eight Principles of Contemporary Chinese Political Economy.” Monthly Review 68 (8): 46–57

[4] NBSC (National Bureau of Statistics of China). 2018. China Statistical Yearbook 2018. Beijing: China Statistics Press. http://www.stats.gov.cn/tjsj/ndsj/2018/indexeh.htm.

[5] Ding, X. 2019. “Die Risiken von Sozialistischer Marktwirtschaft, Staatskapitalismus und Neoliberalem Kapitalismus” [The Risks of Socialist Market Economy, State Capitalism and Neo-liberal Capitalism]. In Der Aufstieg Chinas und die Krise des Neoliberalen Kapitalismus [The Rise of China and the Crisis of Neoliberal Capitalism], ISW Report No. 119, edited by W. Sabautziki, 3–8. Munich: Institut für sozial-ökologische Wirtschaftsforschung.

[6] Esping-Andersen, G. 1990. The Three Worlds of Welfare Capitalism. Cambridge: Polity Press.

[7] Foster, J. B. 2000. Marx's Ecology: Materialism and Nature. New York: Monthly Review Press.

[8] He, B. 2016. “Firmly Grasping Value Orientation of Developing Mixed Economy.” In Marxist Studies in China, compiled by C. Deng and E. Cheng, 98–112. Beijing: China Translation & Publishing House.

[9] Kotz, D. M. 2018. “What behind the Trade War?” Jacobin Magazine, no. 6. https://www.jacobinmag.com/2018/06/donald-trump-,-war-china-tariffs.

[10] Marx, K., and F. Engels. 2010a. Marx and Engels Collected Works, vol. 6. Digital edition. London: Lawrence & Wishart.

[11] Marx, K., and F. Engels. 2010b. Marx and Engels Collected Works, vol. 20. Digital edition. London: Lawrence & Wishart.

[12] Marx, K., and F. Engels. 2010c. Marx and Engels Collected Works, vol. 28. Digital edition. London: Lawrence & Wishart.

[13] Marx, K., and F. Engels. 2010d. Marx and Engels Collected Works, vol. 29. Digital edition. London: Lawrence & Wishart.

[14] Marx, K., and F. Engels. 2010e. Marx and Engels Collected Works, vol. 32. Digital edition. London: Lawrence & Wishart.

[15] Marx, K., and F. Engels. 2010f. Marx and Engels Collected Works, vol. 35. Digital edition. London: Lawrence & Wishart.

[16] Marx, K., and F. Engels. 2010g. Marx and Engels Collected Works, vol. 36. Digital edition. London: Lawrence & Wishart.

[17] Marx, K., and F. Engels. 2010h. Marx and Engels Collected Works, vol. 37. Digital edition. London: Lawrence & Wishart.

[18] Milanovic, B. 2016. Global Inequality: A New Approach for the Age of Globalization. Cambridge, MA: Harvard University Press.

[19] Panitch, L., and S. Gindin. 2012. The Making of Global Capitalism: The Political Economy of American Empire. London: Verso.

[20] Pasinetti, L. L. 1981. Structural Change and Economic Growth: A Theoretical Essay on the Dynamics of the Wealth of Nations. Cambridge: Cambridge University Press.

[21] Piketty, T. 2019. Capital et idéologie [Capital and Ideology]. Paris: Éditions du Seuil.

[22] Saito, K. 2016. Natur gegen Kapital: Marx' Ökonomie in seiner unvollendeten Kritik des Kapitalismus [Nature against Capital: Marx's Economy in His Unfinished Critique of Capitalism]. Frankfurt: Campus Verlag.

[23] Shaikh, A. 2016. Capitalism: Conpetition, Conflict, Crises. Oxford: Oxford University Press.

[24] Stiglitz, J. 2002. Globalization and Its Discontents. London: Alle Lane.

[25] Tooze, A. 2018. Crashed: How a Decade of Financial Crises Changed the World. New York: Viking.

[26] Wei, X. 2018. “Lenin's NEP and Deng Xiaoping's Economic Reform.” In The Palgrave Handbook of Leninist Political Philosophy, edited by T. Rockmore and N. Levins, 531–548. London: Palgrave Macmillan.