The revenge of multiplicity: Chinese capitalism under systemic competition

Abstract

The re-emergence of conflict at the apex of the global political economy between the United States and China makes it imperative to establish analytical connections between geopolitics and national political-economic development trajectories. However, just as realist international relations conceals ‘domestic’ causes of international conflict, most comparative capitalisms (CC) research has systematically underplayed the role of geopolitics and the global political economy as forces structuring and driving national economies. Furthermore, both IR and CC analyses misleadingly treat states as analogous and independent ‘units’, rather than relationally constituted and internally heterogenous political forms whose existence and reproduction requires explanation. As such, CC fails to examine either the geopolitical preconditions for, constitution of, or the geopolitical outcomes of growth models. This article presents an uneven and combined development (U&CD) account of the connections between global order, geopolitical economy and Chinese capitalism, showing how – rather than an alien infiltrator – Chinese state capitalism is both a product, and increasingly a transmitter, of the dynamics of competitive capital accumulation operating in the global political economy. In this way, I contribute to the development of heterodox CC literature by advancing i) a conception of capitalism as a geopolitical-economic system, (ii) an example of how national cases can be treated as dialectically related to and sites for the emergence of the global geopolitical economy, and (iii) a concise application of this method to the case of Sino-US relations.