Abstract
Because of the state’s unique role in China’s national system of capitalism within the post-Cold War international system, state capitalism in catch-up development, as practised by China, is different from the historical patterns in the previous two rounds of ‘state capitalism’. In particular, the state is in command of new tools and instruments to control and coordinate the behaviour of national capital, making it possible for a genuine model of national development to emerge. Meanwhile, the hybrid nature of state capitalism of China implies that it is interested in promoting a set of ‘parallel structures’ in global governance without mounting a full-scale challenge to the current institutional structure of the global system. The nature of the domestic complex of state capitalism in China foresees that these ‘parallel structures’ will continue to exist without directly replacing Western-dominated structures in global governance. However, the long-term sustainability of such parallel structures is highly contingent upon China’s relative position within the capitalist world system and the nature of global capitalism.
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Among many others, please see Zhang Youwen’s speech at the conference of ‘Western sanctions against Russia and its impact on BRICs cooperation’, Fudan University, BRICs Centre, January 22, 2015. Similar ideas are presented in an influential report on global governance prepared by a group of experts at Fudan University in Shanghai (Chen and Su 2013: 10–13).
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The table is compiled based on Heilmann et al. (2014) and the author’s own information.
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Zhang, X. (2020). Integrated Challenge: China’s Response to Reforms in Global Governance. In: Grigoryev, L., Pabst, A. (eds) Global Governance in Transformation. Springer, Cham. https://doi.org/10.1007/978-3-030-23092-0_7
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