The state and domestic capitalists in China’s economic transition: from great compromise to strained alliance

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ABSTRACTThis article contributes to the debate on the role of the Chinese state in economic transition by shedding light on the relationship between the state and a Chinese domestic capitalist class. The formation of this new class has been a two-way movement between the state and new elites’ forces. This two-way movement remains a prominent feature of the relationship between the state and the new class. This relationship has evolved with the dynamics of capital-labor conflicts and contradictions within a regime of accumulation and transitioned from a stage of “great compromise” to a stage of “strained alliance.”