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Political Economy

CPC with Xi at core is driving global transformation

Is China Transforming the World?

In most mainstream Western media, China is now presented as a threat, a conquering “empire.” Still the global hegemon, the United States is worried about the Chinese rise in strength, and their successive administrations are building the anxiety-provoking image of a China eager to supplant it and steal its leadership of the capitalist world system. | more…

China expanding agricultural cooperation with Belt and Road countries

Legacies of Definancialization and Defending Real Economy in China

Confronting the triple trap of the COVID-19 pandemic, economic downturn, and ecological crisis, the Chinese leadership has reiterated that “China puts the people’s interests first—nothing is more precious than people’s lives.” This kind of people-centered governance philosophy is ostensibly meant to protect the lives and health of the people, while defending people’s property under the basic system of collective ownership. | more…

A McDonald's in China

China: Imperialism or Semi-Periphery?

Whether China has become an imperialist country is a question of crucial importance for the global class struggle. Although China has developed an exploitative relationship with South Asia, Africa, and other raw material exporters, on the whole, China continues to transfer a greater amount of surplus value to the core countries in the capitalist world system than it receives from the periphery. China is thus best described as a semi-peripheral country in the capitalist world system. | more…

CHINA THREAT by Luo Jie

China and the American Lake

U.S. fantasies of expansion, commercial dominion, and military prowess have long hinged on a premise of Pacific exceptionalism. Couched in the millenarian language of manifest destiny, the Pacific region and its multitudinous ecosystems, cultures, peoples, and nations have been vacated in favor of an aqua nullius that frames the region as an empty space designated for U.S. possession by divine providence. | more…

5G technology booth

The Political Economy of the U.S.-China Technology War

One of the key components of U.S.-China strategic competition is the technology war, the essence and implications of which can be further understood in the broader context of the international division of labor and the two countries’ internal contradictions. From this front, we can decipher the antagonism between different classes/groups within and across the two countries. | more…

A drone applying pesticide on a field in Huichang, Jiangxi province

From Sandstorm and Smog to Sustainability and Justice: China’s Challenges

In China, the orientation toward “ecological civilization” has been proposed for some years. But if the hard core of developmentalism and modernization continues to be the guiding principle, China will continue to be challenged by social injustice and environmental devastation. | more…

Monthly Review Volume 73, Number 2 (June 2021)

June 2021 (Volume 73, Number 2)

Where capitalism itself is concerned, the dominant view is that the COVID-19 crisis constitutes a rare, unpredictable, and unlikely to be repeated occurrence. The world capitalist economy, we are informed, was fundamentally sound prior to the advent of this unforeseen exogenous shock, and it will revive quickly once the SARS-CoV-2 virus is under control. This received view, however, is incorrect on all counts. | more…

New beech leaves, Gribskov Forest in the northern part of Sealand, Denmark

Capital and the Ecology of Disease

The death of Salvador Allende in 1973 marked, simultaneously, not only the demise of one of the great socialist experiments, and the launching of neoliberalism; it also represented the loss in Allende of one of the great figures in social medicine. Nowhere has neoliberalism had more devastating effects than in the destruction of public health and social medicine initiatives throughout the world. | more…

President Joe Biden and Vice President Kamala Harris, joined by the Presidential Cabinet members, pose for a Cabinet portrait Thursday, April 1, 2021, in the Grand Foyer of the White House

The Council on Foreign Relations, the Biden Team, and Key Policy Outcomes

Climate and China

We can analyze the new Biden administration, its personnel, and the policies it is likely to follow, especially on the all-important questions of the climate crisis and U.S. grand strategy toward China, by looking at the Council on Foreign Relations. | more…

The Foreign Minister of Ecuador, Ricardo Patiño, participated in the commemoration of the death of Commander Hugo Chávez Frías

Socialist Practice and Transition

In Socialist Practice, a collection of essays on leftist theory and experiences, Victor Wallis adheres to the view that the achievement of socialism is a drawn out, nonlinear process consisting of episodes that in many cases have a mixed impact on the revolutionary cause. He analyzes several, ranging from the seven decades of Soviet rule to the New Left of the 1960s. His main thesis is that over the last century pure socialism has never existed and that on all fronts socialist movements and governments have contained elements of the old—namely, capitalism. | more…

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