Minqi Li argues in this provocative and startling book that far from strengthening capitalism, Chinas full integration into the world capitalist system will, in fact and in the not to distant future, bring about its demise. The author tells us that historically the spread and growth of capitalist economies has required low wages, taxation and environmental costs, as well as a hegemonic nation to prevent international competition from eroding these requirements. With the decline of the economic power of the United States, its current hegemonic role will deteriorate and the unprecedented growth of China will erode the foundations of capital accumulation – by pushing wages and environmental costs up, for example – that the entire capitalist system will be shaken to its core. This is essential reading for those will still believe that there is no alternative

208pp

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Business      Economics