Past, present and future of China: From semi-colony to world power?

This article raises serious methodological, conceptual, historical and empirical questions concerning the notion of China as the next world superpower. The most dynamic sector of growth is the private sector, but within that sector foreign capital is growing the fastest, especially in strategic export sectors and increasingly in finance and the domestic market. Historically China has passed from a semi-colony to a collectivist state to a state capitalist economy toward a neo-liberal economy which contains the seeds for the re-emergence of a foreign capitalist-dominated economy. Contradictions in the current neo-liberal economy are leading to increased class struggle especially in the countryside and increasing tension between the super-rich Chinese bourgeois allied to foreign capital and 'national statist' sectors of the governing-class. The efforts by the new leadership to ameliorate the contradiction through increased social spending are too little and too late.