This edited volume represents the first collaborative effort to
explicitly view China s rapid international ascent as associated
with the same process that catapulted Great Britain, the United
States, Germany, and Japan to international prominence the
emergence of a capitalist political economy. Each chapter therefore
applies the capitalist lens to analyze aspects of China s
monumental social, economic, and political transition. Topics
addressed range from examinations of China s industrial capitalism
and its new multinational corporations to studies of China s
changing polity, state-media relations, and foreign policy.
With contributors writing from highly varied backgrounds each
chapter approaches the subject from a slightly different
perspective, but the underlying findings show considerable common
ground. China is developing a unique form of capitalism by
combining elements rooted in Chinese history, such as the
prevalence of networked forms of capital and the continued
dominance of the state, with the growing influence of global
capital, including the rapid adaptation of recent organizational
and technological innovations. Concluding chapters draw out what
capitalism in the dragon s lair implies for our 21st century world,
cautioning that China s rise is likely to challenge the present
world order along both political and economic dimensions.
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