China Challenges Global Capitalism

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Title China Challenges Global Capitalism
Author Vivoda, Vlado
Journal Name The Australian Journal of International Affairs
Year Published 2009
Place of publication London
Publisher Routledge: Taylor & Francis
Abstract This paper establishes a novel understanding of the nature and implications of China's rise. By borrowing Robert Gilpin's concept of sub-optimisation, it is argued that China is the most prominent player in a non-Western subgroup's suboptimisation strategy, which undermines the Western-dominated neoliberal capitalist system, or the Washington Consensus, and liberal democratic values, taken as gospel by Western economists, governments and industry for the past 30 years. While China and other non-Western states are a part of this system, a consequence of their actions within the system, and particularly in the international energy markets, is that they are increasing their relative gains at the expense of the larger group. China-led subgroup's suboptimisation strategy may result in direct competition between the predominant neoliberal Western paradigm, which is synonymous with globalisation, and which has entered into a structural crisis, and the emerging non-Western economic and political capitalist model.
Peer Reviewed Yes
Published Yes
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Copyright Statement Copyright 2009 Routledge. This is the author-manuscript version of this paper. Reproduced in accordance with the copyright policy of the publisher. Please refer to the journal's website for access to the definitive, published version.
Volume 63
Issue Number 1
Page from 22
Page to 40
ISSN 1035-7718
Date Accessioned 2010-11-01
Language en_AU
Research Centre Griffith Asia Institute
Faculty Griffith Business School
Subject International Relations
Publication Type Journal Articles (Refereed Article)
Publication Type Code c1x

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