Adam Smith in Beijing: Lineages of the Twenty-first CenturyIn 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. He traces how the recent US attempt to bring into existence the first truly global empire in world history was done in order to counter China's spectacular economic success of the 1990s, and how the US' disastrous failure in Iraq has made China the true winner of the US War on Terror. Smith's vision of a world market society based on greater equality among the world's civilizations is now more likely than at any time since "The Wealth of Nations" was published in 1776. In the 21st century, China may well become again the kind of non-capitalist market economy that Smith described, under totally different domestic and world-historical conditions |
From inside the book
Results 1-3 of 48
Page 220
... centers through intensified international competition . Con- strained development abroad limits international ... center is also a hegemonic center , either outcome threatens to deflate not just the value of its assets but its power as ...
... centers through intensified international competition . Con- strained development abroad limits international ... center is also a hegemonic center , either outcome threatens to deflate not just the value of its assets but its power as ...
Page 233
... centers generally lost out even in the financial sphere to newly emergent centers that were better positioned to provide the endless accumulation of capital and power with a spatial fix of greater scale and scope than the previous one ...
... centers generally lost out even in the financial sphere to newly emergent centers that were better positioned to provide the endless accumulation of capital and power with a spatial fix of greater scale and scope than the previous one ...
Page 234
... centers that brought back to the mature centers flows of interest , profits , and rents that equaled or even surpassed the original investment . Instead of weakening , it therefore strengthened the position of the incumbent centers in ...
... centers that brought back to the mature centers flows of interest , profits , and rents that equaled or even surpassed the original investment . Instead of weakening , it therefore strengthened the position of the incumbent centers in ...
Contents
Marx in Detroit Smith in Beijing | 23 |
The Historical Sociology of Adam Smith | 63 |
Marx Schumpeter and the Endless | 79 |
Copyright | |
10 other sections not shown
Other editions - View all
Common terms and phrases
accumulation by dispossession Adam Smith American Asia belle époque boom Brenner Britain British Bush administration Cambridge University Press capitalist capitalist development centers Chaos and Governance Chapter China Cold War contrast corporations countries created crisis of profitability currency developmental path division of labor dollar dominant Dutch East Asian economic development emergence empire escalating Europe European financial expansion force foreign Giovanni Arrighi Global Turbulence greater Harvey hegemony History Ibid imperial income increase India Industrial Revolution inter-capitalist competition interest International Herald Tribune investment Iraq Iraqi Japan Japanese late London long downturn Long Twentieth Century manufacturing Marx Marx's ment military Ming Modern nineteenth nonetheless over-accumulation overseas Chinese Plaza Accord policies political economy population protection Qing reforms region rise role rural Smith Smithian social spatial fix strategy struggle Sugihara surplus Taiwan tendency territorial theory tion transformation United Vietnam wages Wealth of Nations Western workers World Economy York