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Lo, Dic (2020) 'Towards a conception of the systemic impact of China on late development.' Third World Quarterly, 41 (5). pp. 860-880.

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Abstract

The tremendous expansion of the Chinese economy since the turn of the century, especially in terms of its external dynamics, is of world-scale significance. It seems to justify the quest for appropriate conceptions of China’s systemic impact on late development worldwide. A large number of scholarly studies have coalesced to analyse two crucial aspects of the impact, namely: impact on the performance of industrialisation and the condition of labour in the developing world. This paper seeks to critically appraise and reinterpret the existing studies. The appraisal is not so much a critique but rather an attempt to appropriately position the studies in the systemic context. It is submitted that the existing studies’ focus on market competition, as the main form through which China’s impact manifests, needs to be complemented and underpinned by the more fundamental consideration of productive investment. In the direction of constructing a systemic conception, it is further submitted that the China impact can potentially serve as a countervailing force against the prevailing dynamics of the world economy under neoliberal globalisation – ie the rising predominance of speculative finance that tends to crowd out productive investment, thereby hampering industrialisation and worsening labour conditions in the developing world.

Item Type: Journal Article
Keywords: China, late development, systematic impact, productive investment
SOAS Departments & Centres: Departments and Subunits > Department of Economics
ISSN: 01436597
Copyright Statement: © 2020 Taylor and Francis. This is an Accepted Manuscript of an article published by Taylor & Francis in Third World Quarterly on 09/03/20, available online: http://www.tandfonline.com/10.1080/01436597.2020.1723076.
DOI (Digital Object Identifier): https://doi.org/10.1080/01436597.2020.1723076
Date Deposited: 31 Jan 2020 12:18
URI: https://eprints.soas.ac.uk/id/eprint/32217
Funders: Economic and Social Research Council

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