Abstract
ABSTRACT This article contributes to the debate on income and wealth distribution in China by analyzing the main characteristics of the Chinese accumulation pattern that determine its distributive dynamics in a comparative perspective. After a period of rapid growth of inequalities, coupled with improved living conditions for all distribution deciles, inequalities have stabilized in China since the mid-2000s. Globally, China is today in a distributive pattern worse than Western Europe or Japan, but it is more egalitarian than the United States and far from the world inequality frontier defined by Brazil, India, South Africa and the Middle East. In this article, we scrutinize three characteristics of the regime of accumulation in China that mitigate the capital-concentrating tendency: 1. the financialization process with Chinese characteristics, 2. the strategic share of State ownership in the economy, 3. its trajectory over the agrarian question.
Highlights
Inequalities have become a hot topic globally for both academic and very concrete reasons
As the second largest economy in the world, China is going through rapid changes in its social formation, in this sense its distributional dynamics is among the most relevant cases to be studied in detail
We argue that contrary to the current finance-led regime of accumulation which prevails globally, China’s mode of regulation has three major distinctive characteristics: 1. a financialization with Chinese characteristics, 2. a large and strategic share of State ownership, and 3. an egalitarian agrarian structure
Summary
RESUMO: Esse artigo contribui para o debate sobre distribuição de renda e riqueza na China ao analisar as principais características do padrão de acumulação chinês que determinam sua dinâmica distributiva em uma perspectiva comparada. Globalmente, a China se encontra hoje em uma situação distributiva pior do que a média da Europa Ocidental ou Japão, mas mais igualitária do que Estados Unidos e muito distante dos limites extremos da má distribuição como Brasil, Índia, África do Sul e Oriente Médio. Nós escrutinamos três ca racterísticas do regime de acumulação na China que arrefecem a tendência concentradora do capital naquele país: 1. PALAVRAS-CHAVE: Desigualdades; China; acumulação de capital; financeirização; propriedade estatal; questão agrária
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