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Adam Smith in Beijing: Lineages of the Twenty-First Century
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ISBN
:
9781844672981
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Publisher
:
Verso
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Subject
:
Business & Management
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Binding
:
Paperback
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Pages
:
418
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Year
:
2009
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3411.0
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3274.0
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Description
Acclaimed exploration of China's emergence as the most dynamic center of current economic expansion. In the late eighteenth century, the political economist Adam Smith predicted an eventual equalization of power between the conquering West and the conquered non-West. Demonstrating Smith's continued relevance to understanding China's extraordinary rise, Arrighi examines the events that have brought it about, and the increasing dependence of US wealth and power on Chinese imports and purchases of US Treasury bonds. In the twenty-first century China may well become again the kind of non-capitalist market economy that Smith described, under totally different domestic and world-historical conditions.In the late eighteenth century, the political economist Adam Smith predicted an eventual equalization of power between the West and the territories it had conquered. In this magisterial new work, Giovanni Arrighi shows how China's extraordinary rise invites us to reassess radically the conventional reading of The Wealth of Nations. He examines how recent US attempts to create the first truly global empire were conceived to counter China's spectacular economic success Now America's disastrous failure in Iraq has made the People's Republic of China the true winner in the US War on Terror. China may soon become again the kind of noncapitalist market economy that Smith described, an event that will reconfigure world trade and the global balance of power.
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