The State and Capitalism in China

China's political economy has evolved from state ownership and regulation to a variant of state capitalism called "party-state capitalism," which emphasizes risk management and leadership by the Chinese Communist Party (CCP). This transition emerged from reactions to perceived threats and problems, reflecting adaptations to global capitalism's contemporary crises.

Format: Paperback / softback
Length: 75 pages
Publication date: 29 June 2023
Publisher: Cambridge University Press

China's modern political economy exhibits an assertive role for the state as both owner and regulator, with markets anticipated to align with party-state objectives. How has the interplay between the state and diverse types of firms evolved over time? This Element contextualizes China's reform-era political economy within a comparative analytic framework, highlighting its adaptations over time. Similar to other economic systems, China's political economy has experienced internal dynamics and external responses that challenge initial arrangements. While the state has always played a central role in development, the prioritization of growth has shifted towards a variant of state capitalism, best characterized as "party-state capitalism," which emphasizes risk management and leadership by the Chinese Communist Party (CCP). It is important to note that the transition to party-state capitalism did not arise from long-standing intentions of the CCP but rather as a response to perceived threats and problems, both domestic and external. These adaptations are reflected in the contemporary crises of global capitalism.

This title is also available as open access on Cambridge Core.

Weight: 154g
Dimension: 152 x 229 x 11 (mm)
ISBN-13: 9781009356749