IDEAS home Printed from https://ideas.repec.org/a/sae/agspub/v2y2013i3p247-268.html
   My bibliography  Save this article

The Development Trap of Financial Capitalism: China’s Peasant Path Compared

Author

Listed:
  • Sit Tsui

    (Sit Tsui is Associate Professor at the Institute of Rural Reconstruction of China, Southwest University. Email: sittsui@gmail.com; xuecui@swu.edu.cn)

  • Du Jie

    (Du Jie is Lecturer at the Institute of Rural Reconstruction of China, Southwest University.)

  • Lan Yonghai

    (Lan Yonghai is a PhD Candidate at the School of Agricultural Economics and Rural Development, Renmin University of China.)

  • Dong Xiaodan

    (Dong Xiaodan is Lecturer at the School of Agricultural Economics and Rural Development, Renmin University of China.)

  • Erebus Wong

    (Erebus Wong is Senior Researcher at Lingnan University.)

  • Wen Tiejun

    (Wen Tiejun is Professor and Executive Dean of the Institute of Advanced Studies for Sustainability, Renmin University of China, and Executive Dean of the Institute of Rural Reconstruction of China, Southwest University.)

Abstract

On the basis of an understanding that the crises of core nations are being transferred to developing countries and thus globalized, this article highlights two issues, the ‘sovereignty externalities’ borne by developing countries and the ‘currency–strategy’ of the superpower in financial capitalism. These are the causes of the predicament with which developing countries are faced today. Furthermore, to illustrate how manufacturing countries bear the international institutional costs of global financialization, we further elaborate the ‘international competition smiling curve’. This article elaborates these theoretical issues with reference to China, South Africa and Venezuela.

Suggested Citation

  • Sit Tsui & Du Jie & Lan Yonghai & Dong Xiaodan & Erebus Wong & Wen Tiejun, 2013. "The Development Trap of Financial Capitalism: China’s Peasant Path Compared," Agrarian South: Journal of Political Economy, Centre for Agrarian Research and Education for South, vol. 2(3), pages 247-268, December.
    • Handle: RePEc:sae:agspub:v:2:y:2013:i:3:p:247-268
    DOI: 10.1177/2277976013517322
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/2277976013517322
    Download Restriction: no
    File URL: https://libkey.io/10.1177/2277976013517322?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:agspub:v:2:y:2013:i:3:p:247-268. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.