Seminar: The crisis of global economy and China – Four different perspectivesBy Professor Minqi Li, University of Utah
Tue 3 Oct 2017
1:00pm - 2:15pm
LocationRoom 929, 9/F, The Jockey Club Tower, Centennial Campus(Map)
Since the global financial crisis of 2008-2009, China has established itself as the center of global capitalist accumulation. Dr. Minqi Li demonstrates how the future of the Chinese economy may be analyzed using for different perspectives: the neoclassical, Marxian, world-system, and climate stabilization.
While the neoclassical perspective suggests that China can maintain relatively decent pace of economic growth for decades to come, the Marxian analysis finds that, most likely, the Chinese economy will confront a major crisis in the coming years due to the internal contradictions generated by capitalist accumulation. The world-system analysis suggests that there has been a “ceiling of development” that historically has limited the scope of development for the great majority of the world population. Moreover, if China were to fulfill its climate stabilization obligations, it will prove to be very difficult for the current regime to maintain economic and political stability under alternative reasonable requirements.
Minqi Li was born in China in 1969. He was an activist in the 1989 student democratic movement. He received PhD in economics from University of Massachusetts Amherst in 2002. He was an assistant professor of political studies at York University, Canada during 2003-2006.
Since 2006, he has taught political economy at University of Utah and now is professor of economics at University of Utah. His recent books include The Rise of China and the Demise of the Capitalist World Economy (Pluto Press, 2008) and China and the 21st Century Crisis (Pluto Press, 2016).
This talk is part of our Sociological forum seminar series.