Risky Expertise in Chinese Financialisation: Returned Labour and the State-Finance Nexus

This book explores the tensions within China's engagement with contemporary financial capitalism by investigating the production of foreign-trained financial experts and informal experts. It shows how the Chinese stock markets are crucial to the new redistributive regime, where wage labor risks losing its primacy, and the state's legitimacy becomes dependent on its capacity to jiushi - to rescue the market in times of crisis.

Format: Paperback / softback
Length: 225 pages
Publication date: 07 November 2021
Publisher: Springer Verlag, Singapore

This book delves into the intricate realm of stock market investors' subjectivities, shedding light on the tensions inherent in China's engagement with contemporary financial capitalism. Employing a genealogical approach, it explores how the production of foreign-trained financial experts (haigui) and informal experts (sanhu) creates paradoxes in China's efforts to cultivate financial expertise. Chinese financialization, a significant aspect of this phenomenon, arises as a response to the contractualized labor market and the diminishing welfare state, aiming to financialize human capital. Through ethnographic inquiry, Dal Maso reveals the critical role of Chinese stock markets in the emergence of a new redistributive regime. Here, one can observe the reworking of the relationship between money and wages in China, witnessing the emergence of a novel economic order where the state's legitimacy hinges on its ability to jiushi – to rescue the market during times of crisis.

This book explores the complex dynamics of stock market investors' subjectivities within the context of China's engagement with contemporary financial capitalism. By employing a genealogical approach, it investigates how the production of foreign-trained financial experts (haigui) and informal experts (sanhu) creates paradoxes in China's efforts to cultivate financial expertise. Chinese financialization, a significant aspect of this phenomenon, emerges as a response to the contractualized labor market and the diminishing welfare state, aiming to financialize human capital. Through ethnographic inquiry, Dal Maso reveals the critical role of Chinese stock markets in the emergence of a new redistributive regime. Here, one can observe the reworking of the relationship between money and wages in China, witnessing the emergence of a novel economic order where the state's legitimacy hinges on its ability to jiushi – to rescue the market during times of crisis.

This book delves into the intricate realm of stock market investors' subjectivities, shedding light on the tensions inherent in China's engagement with contemporary financial capitalism. Employing a genealogical approach, it explores how the production of foreign-trained financial experts (haigui) and informal experts (sanhu) creates paradoxes in China's efforts to cultivate financial expertise. Chinese financialization, a significant aspect of this phenomenon, arises as a response to the contractualized labor market and the diminishing welfare state, aiming to financialize human capital. Through ethnographic inquiry, Dal Maso reveals the critical role of Chinese stock markets in the emergence of a new redistributive regime. Here, one can observe the reworking of the relationship between money and wages in China, witnessing the emergence of a novel economic order where the state's legitimacy hinges on its ability to jiushi – to rescue the market during times of crisis.

Weight: 320g
Dimension: 210 x 148 (mm)
ISBN-13: 9789811568268
Edition number: 1st ed. 2020