The poverty of development theory: China’s Faustian bargain with global capital

Walden Bello

Chapter 12 in Handbook on Alternative Global Development, 2023, pp 215-231 from Edward Elgar Publishing

Abstract: This chapter steps sums up the section on ‘problematic explanations’. The chapter uses the experience of China to ask but also address fundamental questions about development theory. What is the nature of Chinese development trajectories? How well can these be explained or understood within development theories? Why are new theories needed beyond even existing alternatives? Using a range of sources and data, the chapter shows that neither mainstream development theories nor critical evolutionary and revolutionary development studies goes far enough in explaining the new Chinese political economy of development. What we need is a compelling set of rejuvenating, just , and ecologically nourishing alternative political economy of development.

Keywords: Development Studies; Economics and Finance; Politics and Public Policy Sociology and Social Policy (search for similar items in EconPapers)
Date: 2023
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