Details

  • Time: 5:30-7:00PM
  • Date: 24 March, 2021
  • Venue: X-Bar South Campus

Abstract

Drawing upon Marxian and regulation theory, this talk weeks to identify key dynamics and contradictions of capitalist accumulation in China between 1995 and 2015 and to explain these in their relationship to the institutional context. To this end, data from national accounts and input-output tables are re-mapped to estimate Marxian categories such as the rates of surplus value and profit. The speaker will demonstrate how the transformation of the wage relation and an increase in the rate of surplus value lies at the core of a predominantly extensive accumulation regime that enabled rapid and uncoordinated growth facilitated by world-market integration. In the wake of the globalization crisis, however, a confluence of contradictions has led to over-accumulation and a decline in profitability, clear symptoms of exhaustion of the accumulation regime that explain the current slowdown under the New Normal. The underlying contraditions are rooted in the institutional context of the "Socialist Market Economy", but especially in the wage relation, which no longer supports sufficient increases in the rate of surplus value or a regular pace of accumulation.

Speaker

Robert Pauls is an assistant professor in the Department of International Studies at Xi'an Jiaotong-Liveerpool University. Previously, he was a lecturer at the Faculty of East Asian Studies, Ruhr University Bochum, Germany, where he also received his Ph.D. in 2015. His research interests are in Comparative and International Political Economy with a focus on China and East Asia. In his research, he seeks to bridge theoretical divides between political science and economics as well as comparative and international political economy. His current research focuses on the transformations of China's financial system.