Thread by @LinZhang9

Where does the New Whole State System 新举国体制come from? To what extent does it help advance China's innovation in strategic sectors like semiconductors? How does it inform about the global concurrent expansion of state capitalism? Here's our new article
journals.sagepub.com/doi/full/10.11…

Instead of perpetuating the geo-imaginary of Western liberal democracy vs. Chinese authoritarianism, we situate the p-2008 expansion of state capitalism in China as part of the worldwide response to the crisis of global capitalism (over-production, excess liquidity, slow growth)

Focusing on the NWSS as an assemblage of discourses, policies, and practices, we show how it builds on/departs from the old socialist whole state system. We argue that the Chinese state is not monolithic, unchanging, and culturally essentialist.

Rather, it is actively engaged in global debates about, and in contested experiments with expanding the state’s role in the economy in response to global, conjunctural crises of overproduction and financialization.

Using tech companies owned by Tsinghua, we analyze the evolution of the actually existing state capitalism, focusing on four new mechanisms: mixed-ownership reform, government-guidance funds, local gov financing vehicles, go-out policy, and (Re)conslidation of the party-state

By foregrounding this non-Western country/region’s internal debate about its own development trajectory, its uneven success in overcoming uneven development, and its interaction with the rest of the world,

we propose an alternative perspective that contributes both theoretically and methodologically to the epistemologically Euro-American centric literature of state capitalism.

@economyandspace we thank our interviewees, the anonymous reviewers, and @DrAdam_Dixon @IliasAlami @keanfanlim @outtaKimbo whose works provided us the inspiration and whose comments helped to improve this piece.

#statecapitalism, #financialization, #innovation, #industrialpolicy, #semiconductor.

Here's a link to the pdf linzhang1012.files.wordpress.com/2022/03/zhang_…