沙俄与在华国际银行团

十九世纪末至二十世纪初,随着世界主要资本主义国家进入帝国主义阶段,列强对华侵略出现了新的特点:一是加紧在华划分势力范围,二是以商品输出为主要特征发展为以资本输出为主要特征。为避免因激烈竞争削弱各自在华侵略势力,它们力求通     

日本金融资本的海外战略

当前资本主义世界的金融资本,正进行着重新分割世界市场的竞争。金融资本的本性是向全世界扩张的世界主义。而为实现其世界主义,必须依靠其本国的超经济强力的支持。金融资本垄断体的强大经济竞争力和国家超经济的政治军事强制力相结合,就是实现其世界主义的根本手段。其中心问题是追求最大利润,扩大资本积累,在资本、技术、商品流程各个方向攫取霸主地位。国际金融资本间的争夺霸权,将是今后长时期世界政治经济活动的主要内容。一个时期以来,资本主义世界很多产业的产品,已显示有过剩趋势,例如,80年代曾是资本主义经济带头产业的汽车产业,90年代其生产缩减     

第一次世界大战期间上海工人阶级的壮大和工人运动的发展

1914年,第一次帝国主义世界大战爆发后,侵略中国的几个重要帝国主义国家,卷入了大战的漩涡,暂时放松了对中国的压迫,中国的民族工业,主要是纺织业和面粉业,得到了进一步发展的机会,出现了所谓民族资本主义的“黄金时代”。同时,美、日帝国主义又乘英、法、俄、德忙于撕杀、无暇东顾的时机,取代了这些老牌帝国主义的地位,开厂设行,加紧了对中国的经济侵略活动。这期间,民族资本主义的发展,帝国主义的资本输出,大量地集中在上海。因此,上海资本主义的发展是相当迅速的。然而,资本主义在发展它自身的同时,必然不断     

一部资本主义的整体史——读沈汉先生的三卷本《资本主义史》

在近年来关于资本主义兴起的研究热潮中,沈汉先生的三卷本《资本主义史》给出了自己的独特阐释,并且提出了一系列创新性的观点。在这部煌煌巨著中,作者不仅从整体上阐述了资本主义的发展过程,而且强调市场和商业在资本主义发展过程中的作用,辩证地看待国家与资本主义的关系,运用政治学的研究方法透视资本主义。总体来看,沈汉先生的三卷本《资本主义史》堪称是一部资本主义的整体史。     

16至18世纪中国商业革命和资本主义萌芽

16至18世纪,中国发生了一场未完成的商业革命,其表现是国内大宗商品远距离贸易的发展和全国性市场的形成,以及海外贸易的扩张,中国是其时世界范围内商业革命的重要组成部分。中国商业革命的社会经济效应是:一导致中国城市化新进程,二商人社会地位发生历史性变化,三诱发资本主义萌芽。但这是一场未完成的商业革命。不能完成的原因是:一东西部经济发展失衡,二封建势力的阻挠,三商业资本控制生产之路狭窄,四没有发生资本原始积累。资本主义萌芽和近代工业化,是资本主义发展的不同阶段。所谓“英国模式”和“江南道路”只是中、英资本主义萌芽的不同途径。     

道清铁路早期工人运动

十九世纪末,世界资本主义巳发展到了帝国主义阶段。中日《马关条约》的签订,加深了中国半封建半殖民地的进程。帝国主义列强对华的经济侵略从以商品输出为主转到了以资本输出为主。这时帝国主义列强争相在中国投资攫取铁路建筑权。因为取得某一段铁路的投资建筑权,也就意味着垄断这段铁路沿线的资源。在河南,有法俄投资建     

近代中国民族资本商业的产生

长期来在中国近代史和经济史研究中,论述中国民族资本主义的产生,往往从近代工业开始,忽视了商业中的资本主义关系。而早期的民族资本的商业,又被认为是买办商业,撇出了民族资本主义的范畴。因此,分析早期民族资本商业的产生,对于阐明中国资本主义的发生及其规律,有重要补充的意义。     

武汉徽商的兴盛与衰亡

远在唐宋时期,汉阳、武昌的商业就已十分繁荣,而武汉重要的商业价值是在明中叶以后,才逐步被人们所认识。明中叶,资本主义的萌芽加速了地区商业经济的发展,商品流通和商品交换达到空前的繁荣。     

洞察资本主义经济形态成长的一扇窗口——论工商业经济组织的历史

过去我们对资本主义史的研究偏重于定性考察和对剥削关系的分析,对资本主义经济制度形成和运作关注不够,使得对资本主义的描述过于抽象.资本主义形态也表现在它的经济运行中所创造的一系列工商业组织形式上.本文研究了资本主义经济形态形成过程中的诸种工业和商业经济组织形式,作为观察资本主义制度形成和发展的一个新角度.在这些经济组织中,既有典型化的组织形式,也有非典型化的组织形式.     

近代桂越经贸交往的特点初探

1889年,随着外国资本主义经济势力的侵入,近代桂越经贸交往客观上得到了进一步发展.在其经贸交往环节上,即在进出口贸易中,始终主要由华商和越南华侨商人尤其是粤商掌握,而不似沿海地区和云南是由外国洋行和商业资本主导.这是历史、交通地理环境、外国资本主义经济势力的商品和资本输出重点不放在这里,以及不平等条约相关条款的规定等原因造成的.这种经营特点深刻影响着桂越经贸交往与广西边疆地区的经济开发.     

Against Value: Accumulation in the Oil Industry and the Biopolitics of Labour Under Finance

Current theses on the financialization of capitalism postulate a shift from investment in material growth to financial channels, with the implication that the extraction of value from the labour process is no longer the central locus of corporate profitability and that the antagonism between labour and capital in the accumulation process has been displaced by the tension between corporate managers and financial markets. This article challenges both claims of financialization and its political implications. Using an analysis of the oil industry in the US, focusing particularly on layoffs, I argue that, instead of inhibiting material accumulation, financialization signals a change in the form of investment that has led to the intensification of labour and its deepening subsumption under capital, transcending labour exploitation and extending the sovereignty of capital over the life of living labour.     

Unravelling Washington's Judgement Calls: The Cases of the Malaysian and Chilean Capital Controls

While the option of constraining cross-border financial flows to emerging markets (capital controls) has taken a backseat in the official policy debates about strengthening the global financial architecture, the International Monetary Fund (IMF) has ceded that certain temporary measures to limit the inflow of hot money may be beneficial in achieving some breathing space for governments. In this sense, capital controls are only to be used as a means to reach the larger end, namely, the proper (neoliberal) management of financial liberalisation. Indeed, by sanctioning a particular type of capital control it is engaging in a political judgement call, which is based upon certain material interests, as opposed to mere economic logic. This becomes evident when we juxtapose two different types of capital controls: the Chilean unremunerated reserve requirement, which was endorsed by the Fund, and, conversely, the IMF's rejection of the Malaysian currency control. I suggest that the IMF's opposition to Malaysian controls stems from its perception that capital restraint on outflows threatens the imperative of free capital mobility, which benefits both the US and transnational financial capitals.     

The Sino-centric Capital Export Regime: State-backed and Flexible Capital in the Philippines

There is an ongoing debate as to whether Chinese capital can be described as developmental. While some argue that Chinese capital is simply a tool of the Chinese state to exploit the global South, others claim that Chinese capital opens new development opportunities. Rather than advancing a framework based upon either an exploitative or an egalitarian mode of development, this article argues that China's current crisis of overaccumulation has led to a so-called Sino-centric capital export regime, which sends out two types of capital to the global South. First, state-backed capital imposes a development model by modifying ‘local orders’, attempting to make host states legible by creating maps of peoples and terrains that surround China. These maps aim to improve China's ability to manage inter-state disputes. Second, flexible capital is interested in extricating itself from the conditions imposed on it in China. By moving into the global South, flexible capital breaks through the barriers placed by the Chinese state. As a by-product of this quest for extrication, flexible capital can generate new venues of accumulation and novel ways of organizing production. This article demonstrates these two types of capital using examples from Rodrigo Duterte's Philippines — the Kaliwa Dam project and online gambling — drawing on original field research and a newly generated dataset.     

Financial Globalization,Local Debt Markets and New State Financial Activism in Middle-income Countries

Since the global financial crisis of 2008–09, there has been a renewed interest in the role of the state in processes of financial development and globalization. This article explores new forms of state economic activity via the development of debt capital markets in Southeast Asia, specifically Indonesia and Malaysia. It suggests that the expanding profile of various state-controlled entities in local capital markets constitutes a new form of state financial activism responsive to (upper) middle-class consumption preferences such as modern infrastructure, urban housing and low-risk investments. This activism highlights state agency and complicates the propositions of the emergent literature on state capitalism and financial de-risking that focuses on increasingly close alignment of the interests of states and international portfolio investors. Accordingly, the authors caution against unilinear conceptions of the state in which activism is primarily geared towards accommodating the preferences of international investors. The article posits that states are actively trying to establish new market logics for the benefit of their domestic middle classes via the development of domestic capital markets, and that the emergent role of middle-income country (upper) middle classes as financial consumers reconfigures processes of state-managed financialization.     

The Spaces of Capital: The Political Form of Capitalism and the Internationalization of the State1

Abstract: In the course of the neoliberal globalization offensive capital has become more international. This development has placed the question of the state on the agenda once again. The central issue here is the extent to which the existing plurality of states should be seen as a historically contingent state of affairs which might not in principle last indefinitely, or as a structural component of the capitalist mode of production. One important aspect of this issue is the question of how the relationship between the “political form” of capitalism and “institutions” is understood. More often than not, even approaches that use Marxist theory have tended to address this question in an unsatisfactory manner.     

后金融危机视角下对资本主义、马克思主义与社会主义的反思

席卷全球的金融危机既对资本主义社会造成很大破坏,影响十分恶劣,却也彰显出马克思主义的价值和魅力,更让社会主义透现出光明的发展前景。但这并不等于资本主义行将灭亡、社会主义取得胜利的时机已经来临。金融危机给人们提出了一系列需要更加深入反思和认识的有关资本主义与社会主义的理论与实践问题,需要确立理性看待资本主义的态度,坚定马克思主义、社会主义的信念与信心。     

Serious chemistry on set: the molecular structure of film investment in China

ABSTRACT

Using the case of the Mainland Chinese film industry, this paper argues that the competing features that attract commercial capital investment and drive state centralization create a molecular structure of national film investment, or the division of investment in the film industry into several interdependent centers. A combination of regulations, institutions, the built environment and access to capital leads to a distributed investment of strategic assets linked by bonds of complementarity. Beijing dominates in the area of state-supported production. Shanghai outperforms other cities in terms of foreign direct investment. Qingdao has attracted domestic Chinese private investment and entrepreneurship. Unlike the capital agglomeration seen in countries like the United States where film investment is driven centrally by financial considerations, the Chinese national film industry is strategically divided into several centers that rely more dominantly on political or financial resources. While this paper focuses on China, understanding the molecular structure of the Chinese film industry helps us understand both developed and developing countries that are characterized by robust state oversight and strong commercial media sectors.     

Transnational Capital, Urban Globalisation and Cross-Border Solidarity: the Case of the South African Municipal Workers

The article discusses the redefinition of strategies of international solidarity and action in South African organised labour, with particular regard to the South African Municipal Workers' Union (SAMWU). SAMWU has recently been challenged by the pervasive penetration of global capital and multinational corporations in schemes of "PublicÐPrivate partnership" in the delivery of municipal infrastructures. These developments carry potential dangers for trade union organisation and for public services in a context of extreme inequality. SAMWU has identified international action against global capitalism as a decisive terrain of struggle for workers' and citizens' rights. However, the union's difficulties in articulating an effective confrontation at this level reflects broader problems in internationalist approaches adopted by South African labour. These refer primarily to a problematic conceptualisation of new subjects of opposition and of alliances with emerging global social movements.     

后冷战时期马来西亚对美政策评析

后冷战时期,马来西亚与美国展开一连串激烈交锋,两国关系一度非常紧张。马来西亚对美采取强硬政策的原因,包括冷战后国际政治格局变化,美国东南亚政策的改变,以及金融危机后马来西亚的政治和经济安全面临的严重威胁等。但马美经贸关系继续发展,美国还跃升为马来西亚最大的出口市场和外资来源,这与马来西亚成功的外交谋略不无关系。对美政策有效地捍卫了马来西亚的政治和经济利益,提高了马来西亚的国际地位,基本体现了马来西亚当时的国家利益,充分显示了小国外交的智慧。     

The Development of Geographical Specialization of Venture Capital

Many regions have realized that access to capital is an important prerequisite for establishment and growth of businesses, and have therefore focused policies to ensure an adequate supply of risk capital. The growth of the venture capital industry in the 1990s put pressure on venture capital firms (VCFs) to act more strategically. Many VCFs have thus specialized along one or more dimensions: certain industries, stages of development of the firm, or geographical areas. A theoretical dichotomy is developed in this paper to explain regionally focused venture capital. A competence-based theoretical view sees increased competition in the industry as promoting the growth of geographical specialization, while, according to financial theory, it would lead to diversification in order to spread risk. The empirical analysis illustrates the development in the average distance between VCFs and their Danish portfolio firms. All venture capital investments are included. Findings suggest that the process of geographical specialization follows an inverted V-shaped curve. This is interpreted in light of the developments in competition and in the competencies in the market. VCFs search broadly for investment opportunities in the first phase of the emergence of the venture capital industry, but when competition increases they tend to confine themselves to investments within a closer geographical distance. The implications of these findings are important both for funds-of-funds, regional governments, and VCFs.