Politics
Out of context: Reply #9268
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- Khurram0
The process of this relocation of technologically less-advanced industrial production to low-wage regions has unfolded differently to that of the classically expansionary phases of the capitalist system. Although China has grown very rapidly along these lines, the world economy as a whole has grown too slowly and disproportionately for even this to be sustainable. While the us, and the West more generally, will come to accept a larger role for China in some emerging, unsteady crisis-management regime, this is not the beginning of a new, China-centred phase of accumulation. For the latter to be conceivable, Chinese growth would have to come to depend on new and more advanced productive forces—not simply the broader dissemination of existing ones that are not even at the most advanced level, like the us techniques that spread to Europe and Japan after the war. The quarter-century story of countries with a half or a fifth of us per capita gdp catching up and indeed surpassing it, cannot be repeated today by others that have scarcely a fourteenth.