OPINION| China is retooling the capitalist paradigm - The forms of capitalism adopted in the West and in economies such as China are influenced by how early or late those polities were in coming to the game
never appear before the material conditions of their existence have matured in the womb of the old society.” Britain has already lost its particular social order — its empire — and the United States is now losing its.
Endless hostility towards and denunciations of the state match systematic reliance on and support for strong state apparatuses and the economic interventions imposed by them . Consider the parallels with the endless rejections of racism in societies that institutionally reproduce that racism or with celebrations of family within societies that systematically undermine them.
Part of China’s embrace of a strong state emerged from its affiliations with the Soviet Union and the history of socialism in the 19th and 20th centuries. Most socialists then subscribed to one or another version of the idea that the transition from capitalism to socialism required the workers to seize the state via ballots or bullets.
Competing capitalist empires produced catastrophic world wars and global economic crashes. They learnt the need to increasingly rely on, fund and legitimise strong states. That learning found expression in various fascistic impulses and movements, in, and in the ever-greater popularity of socialist interpretations of what strong states could and should do.
Western capitalism was yet again torn in its ambivalence. Capitalists wanted to grab the profits of rapid growth. Ideologues warned against the strong states in the “emerging economies” as the leaders of that growth. The result was a global resurgence of both strong-state-led economic growth on the ground and intense ideological reversion to anti-statism. No wonder the name “neoliberalism” stuck to the time.
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