Vol. 64, No. 4
Sino-Capitalism: China's Reemergence and the International Political Economy
By Christopher A. McNally
There is little doubt that China’s international reemergence represents one of the most significant events in modern history. As China’s political economy gains in importance, its interactions with other major political economies will shape global values, institutions, and policies, thereby restructuring the international political economy. Drawing on theories and concepts in comparative capitalism, the author envisages China’s reemergence as generating Sino-capitalism—a capitalist system that is already global in reach but one that differs from Anglo-American capitalism in important respects. Sino-capitalism relies more on informal business networks than legal codes and transparent rules. It also assigns the Chinese state a leading role in fostering and guiding capitalist accumulation. Sino-capitalism, ultimately, espouses less trust in free markets and more trust in unitary state rule and social norms of reciprocity, stability, and hierarchy.
Please note that authors do not provide copies of their articles. For information about ordering a particular issue and/or about subscribing to World Politics, please visit the Web site of our publisher Cambridge University Press.