Simultaneamente adotando e descartando teorias do desenvolvimento com elementos eurocentristas, e... more Simultaneamente adotando e descartando teorias do desenvolvimento com elementos eurocentristas, este trabalho tenta inovar a teoria da pobreza da economia institucional propondo a hipótese da assimetria de custos e benefícios na estrutura institucional. Revisa e analisa um entendimento histórico comum: que a transferência de custos é a causa intrínseca da pobreza dos países subdesenvolvidos durante diferentes estágios do desenvolvimento do capitalismo. Este texto é parte de uma reflexão maior. Em outro artigo, analisamos a experiência e o mecanismo intrínseco através do qual a China evita “[…] a armadilha do desenvolvimento […]” que aprisiona países em desenvolvimento de um modo geral.
Agrarian South: Journal of Political Economy, 2020
This article examines how China deals with the global crises. China’s policies to counter the cri... more This article examines how China deals with the global crises. China’s policies to counter the crises rely on maintaining investment-led growth, which, however, has incurred an overexpansion of credits and serious debts similar to those of the West entering the era of financial capitalism. The current challenge is whether China can deploy the strategy of rural vitalization to turn to ecological civilization.
During the 1960s, China was effectively excluded from the two major camps: the Soviet camp and th... more During the 1960s, China was effectively excluded from the two major camps: the Soviet camp and the U.S. camp. For about a decade, China was obliged to seek development within its own borders and thereby achieved some extent of delinking: a refusal to succumb to U.S.-eurocentric globalization and an embrace of a people's agenda of development. While foreign relations were later normalized and China once again brought in foreign capital, since being explicitly targeted as the primary rival of the United States, however, the situation may again warrant moves toward delinking and searching for alternatives, with ups and downs along the way.
The tyranny of global monopoly-finance capital can be seen in part as monetary geopolitics backed... more The tyranny of global monopoly-finance capital can be seen in part as monetary geopolitics backed by military power. It directly appropriates, through investment schemes, production gains from the physical and resource economies of developing countries. At the same time, it engages in financial speculation by means of 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 analyses how China negotiates with the effects of global financial crises through adopting the policy of strategic transformation towards ecological civilisation and rural revitalisation. In addition, the grassroots initiative of rural reconstruction movement has played an important role in the ongoing transformative process.
There is considerable interest in the history and characterization of China's economy. This o... more There is considerable interest in the history and characterization of China's economy. This overview of the evolution of the renminbi from the late Qing dynasty to the present, shows how China's political and economic changes in the twentieth and twenty-first centuries are reflected in the development of its highly contested modern currency system.
Agrarian South: Journal of Political Economy: A triannual Journal of Agrarian South Network and CARES, 2017
The recurrent crises of financial capitalism that has erupted within core countries have resulted... more The recurrent crises of financial capitalism that has erupted within core countries have resulted in a double cost-transfer to countries in the Global South in conditions where the South suffers from political upheaval, economic down turns and social unrest. Encountering the challenges of global financialization and de-industrialization, the Global South needs to strengthen national sovereignty over common resources and enhance its capability of reorganizing the labour force, in order to protect the livelihood of the majority. Other than the usual approach of providing more urban jobs, an alternative more socially and culturally beneficial to society in the long term is to enhance local resilience against globalization and reactivate rural communities to promote jobs as well as reincorporate young people. Though the Chinese government’s central policy of ‘New Socialist Countryside’ attempts to absorb the crises of overproduction and unemployment through large scale domestic investme...
Agrarian South: Journal of Political Economy, 2013
On the basis of an understanding that the crises of core nations are being transferred to develop... more On the basis of an understanding that the crises of core nations are being transferred to developing countries and thus globalized, this article highlights two issues, the ‘sovereignty externalities’ borne by developing countries and the ‘currency–strategy’ of the superpower in financial capitalism. These are the causes of the predicament with which developing countries are faced today. Furthermore, to illustrate how manufacturing countries bear the international institutional costs of global financialization, we further elaborate the ‘international competition smiling curve’. This article elaborates these theoretical issues with reference to China, South Africa and Venezuela.
Since the 1980s, economic growth in the core capitalist countries has been driven by an enormous ... more Since the 1980s, economic growth in the core capitalist countries has been driven by an enormous expansion of financial capital, accompanied by steady deindustrialization. In recent years, the monopoly power of this financial capital has displayed increasingly tyrannical characteristics: it depends for its continued growth on ever-increasing indebtedness and dependence in developing nations, widening the divide between rich and poor and ultimately fostering state violence that serves to suppress popular resistance.… [Today,] military and monetary strength work together to profit from inequality and instability in emerging economies.Click here to purchase a PDF version of this article at the Monthly Review website.
Simultaneamente adotando e descartando teorias do desenvolvimento com elementos eurocentristas, e... more Simultaneamente adotando e descartando teorias do desenvolvimento com elementos eurocentristas, este trabalho tenta inovar a teoria da pobreza da economia institucional propondo a hipótese da assimetria de custos e benefícios na estrutura institucional. Revisa e analisa um entendimento histórico comum: que a transferência de custos é a causa intrínseca da pobreza dos países subdesenvolvidos durante diferentes estágios do desenvolvimento do capitalismo. Este texto é parte de uma reflexão maior. Em outro artigo, analisamos a experiência e o mecanismo intrínseco através do qual a China evita “[…] a armadilha do desenvolvimento […]” que aprisiona países em desenvolvimento de um modo geral.
Agrarian South: Journal of Political Economy, 2020
This article examines how China deals with the global crises. China’s policies to counter the cri... more This article examines how China deals with the global crises. China’s policies to counter the crises rely on maintaining investment-led growth, which, however, has incurred an overexpansion of credits and serious debts similar to those of the West entering the era of financial capitalism. The current challenge is whether China can deploy the strategy of rural vitalization to turn to ecological civilization.
During the 1960s, China was effectively excluded from the two major camps: the Soviet camp and th... more During the 1960s, China was effectively excluded from the two major camps: the Soviet camp and the U.S. camp. For about a decade, China was obliged to seek development within its own borders and thereby achieved some extent of delinking: a refusal to succumb to U.S.-eurocentric globalization and an embrace of a people's agenda of development. While foreign relations were later normalized and China once again brought in foreign capital, since being explicitly targeted as the primary rival of the United States, however, the situation may again warrant moves toward delinking and searching for alternatives, with ups and downs along the way.
The tyranny of global monopoly-finance capital can be seen in part as monetary geopolitics backed... more The tyranny of global monopoly-finance capital can be seen in part as monetary geopolitics backed by military power. It directly appropriates, through investment schemes, production gains from the physical and resource economies of developing countries. At the same time, it engages in financial speculation by means of 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 analyses how China negotiates with the effects of global financial crises through adopting the policy of strategic transformation towards ecological civilisation and rural revitalisation. In addition, the grassroots initiative of rural reconstruction movement has played an important role in the ongoing transformative process.
There is considerable interest in the history and characterization of China's economy. This o... more There is considerable interest in the history and characterization of China's economy. This overview of the evolution of the renminbi from the late Qing dynasty to the present, shows how China's political and economic changes in the twentieth and twenty-first centuries are reflected in the development of its highly contested modern currency system.
Agrarian South: Journal of Political Economy: A triannual Journal of Agrarian South Network and CARES, 2017
The recurrent crises of financial capitalism that has erupted within core countries have resulted... more The recurrent crises of financial capitalism that has erupted within core countries have resulted in a double cost-transfer to countries in the Global South in conditions where the South suffers from political upheaval, economic down turns and social unrest. Encountering the challenges of global financialization and de-industrialization, the Global South needs to strengthen national sovereignty over common resources and enhance its capability of reorganizing the labour force, in order to protect the livelihood of the majority. Other than the usual approach of providing more urban jobs, an alternative more socially and culturally beneficial to society in the long term is to enhance local resilience against globalization and reactivate rural communities to promote jobs as well as reincorporate young people. Though the Chinese government’s central policy of ‘New Socialist Countryside’ attempts to absorb the crises of overproduction and unemployment through large scale domestic investme...
Agrarian South: Journal of Political Economy, 2013
On the basis of an understanding that the crises of core nations are being transferred to develop... more On the basis of an understanding that the crises of core nations are being transferred to developing countries and thus globalized, this article highlights two issues, the ‘sovereignty externalities’ borne by developing countries and the ‘currency–strategy’ of the superpower in financial capitalism. These are the causes of the predicament with which developing countries are faced today. Furthermore, to illustrate how manufacturing countries bear the international institutional costs of global financialization, we further elaborate the ‘international competition smiling curve’. This article elaborates these theoretical issues with reference to China, South Africa and Venezuela.
Since the 1980s, economic growth in the core capitalist countries has been driven by an enormous ... more Since the 1980s, economic growth in the core capitalist countries has been driven by an enormous expansion of financial capital, accompanied by steady deindustrialization. In recent years, the monopoly power of this financial capital has displayed increasingly tyrannical characteristics: it depends for its continued growth on ever-increasing indebtedness and dependence in developing nations, widening the divide between rich and poor and ultimately fostering state violence that serves to suppress popular resistance.… [Today,] military and monetary strength work together to profit from inequality and instability in emerging economies.Click here to purchase a PDF version of this article at the Monthly Review website.
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