Rising and Declining Economic Powers: The Sino-US Conflict Deepens

Abstract

Adopting a comparative historical approach informed by Marxist theory of imperialism, this study demonstrates the tendencies toward conflict between past and present rising and declining imperial powers. In the present context the study compares and contrasts two types of imperialism: a highly militarised US empire based on wars and territorial occupations and a market-driven Chinese empire driven by an alliance of state, foreign and national capital. Both imperial systems are influenced by “overseas” diasporas. In the case of the USA, an internal Zionist power configuration loyal to Israel subordinates Washington's Middle East policies to the economically prejudicial interests of a militarist state (Israel), while in the case of China the overseas diaspora facilitates and promotes investments and trade enhancing China's dynamic economic expansion. The emerging contradictions between and within the two conflicting styles of empire building, point to the need for a social transformation, enhancing the power and position of labour against the Zionised state and speculative economy in the USA and the new plutocrats in China.