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China’s road from socialism to global capitalism


China’s engagement with global capitalism is driven by the emergence of a statist and private transnational capitalist class. Nevertheless, aspects of China’s foreign policy from the Maoist period still echo today. Consequently, elements of third world solidarity and opposition to Western domination continue to exist as China’s past is redefined to further its transnational strategies in Latin America and the US. The main Chinese investments in South America have been in energy and infrastructure among the left lead countries of the Pink Tide. In the US, Chinese capital has grown despite heated political rhetoric. This paper will examine how economic ties in South and North America reflect past and present conditions, and if China has initiated a non-Western globalisation.

Keywords: Foreign direct investment, globalisation, mergers and acquisitions, One Belt One Road, transnational capitalist class


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