China’s capitalist development has been hailed as a great phenomenon in modern centuries, and this has been supported by various reasons (Smith, 1997). At the outset, China’s capitalist development contrasts with capitalist development in other states such as Russia. While such states fall into depression owing to misjudged capitalist decisions, China thrives in capitalist success hence making it the second largest economy in the world today. China’s ostensibly sturdy march towards a capitalist society has, in turn, prompted various studies on the state’s successful transition from a communist political economy into a capitalist political economy.
Proposed Research Topic
This paper proposes an in-depth examination of the dynamics behind China’s successful development into a capitalist society. The proposal is aimed at identifying the factors that have led to the success of China’s capitalism, which can later be used as a guideline for states that intend to follow suit.
Purpose and Objectives
The overall objective of this study is to explore the dynamics of the development of capitalism in China’s political economy. Special attention will be paid to how the domestic and international social forces, as well as, the state have combined to create this phenomenon. This objective has been further broken down into various sub-objectives including:
- To examine how China’s historical timing of its transition into capitalism contributed to making this capitalist phenomenon a success (Smith, 1997).
- To examine how China’s geopolitical environment encouraged the growth and development of capitalism in the state (Nee & Opper, 2006).
- To investigate the role of China’s socio-political and cultural systems in the state’s transition into a capitalist society.
- To identify whether China has converged with or diverged from various salient aspects of late capitalist development (McNally & Yin-Wah, 2006).
Political scientists argue that the transformation of China into a superpower has been drawn extensively from the pragmatic and profoundly anti-socialist policies for the governance of the state (Chen, 2002). Coupled with imperialism, which is a characteristic of the Chinese political economy, the state has successfully transformed itself into one of the greatest capitalist society in the world. This, therefore, prompts the need for research on the issue, so as to, best understand China’s transition into the second largest economy globally.
- Chen, An (2002). Capitalist Development, Entrepreneurial Class, and Democratization in China Political Science Quarterly, 117(3), 401-422
This article examines the transformation of China from a socialist economy into a capitalist economy. The author draws attention to the effects of this transformation on the people of China, as well as, China as a state in the global economy.
- McNally, Christopher (2006). Insinuations on China’s Emergent Capitalism. Politics, Governance and Security Series, 15. Retrieved from: http://www.eastwestcenter.org/sites/default/files/private/PSwp015.pdf
In this article, McNally looks at some of the implications of the emergence of the capitalist trend in the Chinese society. He explains various political and economic theories that have been used to explicate on the success of China as a capitalist society.
- McNally, Christopher & Yin-Wah Chu (2006). Exploring Capitalist Development in Greater China: A Synthesis. Asian Perspectives, 30(2), 31-64.
Similar to his previous article, McNally teams up with Yin-Wah to explore the growth and development of capitalism in China. They present two approaches to this study where they examine various salient factors of capitalism that China converged with and diverged from for their achievement and success.
- Nee, Victor & Opper, Sonja (2006). China’s Politicized Capitalism. Retrieved from:
This article proposes the involvement of the Chinese government in Chinese business enterprises as the success factor for capitalist development in China. The authors suggest that the linkage between the state and businesses in China is more beneficial than most people would like to believe.
- Smith, Richard. (1997). Creative Destruction: Capitalist Development and China’s Environment. New Left Review, 1(1) 69-82.
This article presents a conceptual framework in the examination of the capitalist development of China. The article looks at the political, social, domestic and international environmental factors that have played a role in the development of capitalism in China.
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