 China’s Escape from the Peripheral Condition: A Success Story?Francesco Macheda and Roberto Nadalini Review of Radical Political Economics, 2022, vol. 54, issue 1, 59-82 Abstract: This article explores the strategy of active interventions through which Chinese policymakers have created the conditions for pulling their country out of its peripheral status within the world economy. We find that the strategic use of exchange rate policy and the maintenance of extensive ownership in industrial assets by the national government have played a key role in cumulatively promoting the upgrading of technological capabilities of the national workforce since the mid-1990 onward. Economic data show support for the hypotheses of an increasing capacity of Chinese producers to gain access to oligopolistic technology markets. To the extent that this offers the opportunity to capture a slice of the technological rent hitherto reserved to the capitalist center, our study suggests that the growth of real wages in China will be consistent with the maintenance of the country’s external balance in the long run. JEL classification: L16, O47, J21, F13, B51 Keywords: poverty and middle-income traps; labor force participation; structural change; technological catch-up; Marxian economics (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:sae:reorpe:v:54:y:2022:i:1:p:59-82 DOI: 10.1177/04866134211035493 Access Statistics for this article More articles in Review of Radical Political Economics from Union for Radical Political Economics |
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