Publications
Publications
- 2023
The State and Capitalism in China
By: Meg Rithmire, Margaret M. Pearson and Kellee S. Tsai
Abstract
This element explains China's political economic evolution from state socialist economy to a reform era state capitalism model to a more politicized, risk management approach we call "party-state capitalism." We emphasize the internal and external sources of perceived threats that motivated the Chinese Communist Party to turn to the party itself as a solution to the political and economic problems of reform. We show how "party-state capitalism" is manifested in new forms of corporate governance, in party-state authority over firms through legal reforms, and in politicized interactions with domestic and foreign firms. We also discuss international backlash and internal discontent related to changes in the state's role in the economy and situate China's transformation in comparative and historical context.
Keywords
China's Political Economy; State Capitalism; State-business Relations; State Ownership; Economic Systems; Government and Politics; Governing Rules, Regulations, and Reforms; Business and Government Relations; China
Citation
Rithmire, Meg, Margaret M. Pearson, and Kellee S. Tsai. The State and Capitalism in China. Cambridge Elements, Elements in Politics and Society in East Asia. New York: Cambridge University Press, 2023.