The Rise of China and the Demise of the Capitalist World Economy

Taking the subject from his new book of the same name, Li tells us that the spread and growth of capitalism has always required low wages, taxes and environmental costs. It has also required a dominant nation to preserve these conditions in the arena of international competition. With the decline of the economic power of the United States, it will lose that hegemonic role, and the unprecedented growth of China will so erode the foundations of capital accumulation—by pushing wages and environmental costs up, for example—that the entire capitalist system will be shaken to its core. Minqi Li is assistant professor of economics at the University of Utah. A group discussion will conclude his talk. The Marxist School of Sacramento is the sponsor of this free, public event. Copies of Li's book will be available for purchase.