Chinese Capitalism in Crisis : Part 2: Li Minqi on the forthcoming collapse of China’s economy and the capitalist world system

In the second part of this mini-series on Chinese capitalism in crisis, Ralf Ruckus discusses Li Minqi’s recent book China and the 21st Century Crisis (2016) followed by a lively discussion with the book’s author. Li presents the economic, social, and ecological limits not just of Chinese capitalism but of the current capitalist world-system as a whole, predicting the latter’s collapse within the next fifteen years. While Li’s argument on systemic limits is in large parts convincing, his views on a possible political solution are not. Ralf Ruckus writes: “If there is a chance to bring about the end of capitalism in China and globally, we have to learn from the experience of historical socialism—beyond the demonization of attempts to create a society without capitalist exploitation, and beyond the mystification of historical ‘socialism,’ which was meant to accomplish that but didn’t.”

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