Inequalities and capital accumulation in China

Vol. 39 No. 3 (2019)

Jul-Sep / 2019
Published July 1, 2019
PDF-English
PDF-English

How to Cite

Nogueira, Isabela, João Victor Guimarães, and João Pedro Braga. 2019. “Inequalities and Capital Accumulation in China”. Brazilian Journal of Political Economy 39 (3), 449-69. https://doi.org/10.1590/0101-35172019-2929.

Inequalities and capital accumulation in China

Isabela Nogueira
Professora Adjunta do Instituto de Economia e do Programa de Pós-Graduação em Economia Política Internacional da Universidade Federal do Rio de Janeiro – IE/PEPI/UFRJ, Rio de Janeiro/RJ, Brasil. Pesquisadora do CNPq.
João Victor Guimarães
Mestrando do Instituto de Economia e Programa de Pós-Graduação em Economia Política Internacional da Universidade Federal do Rio de Janeiro – IE/PEPI/UFRJ, Rio de Janeiro/RJ, Brasil.
João Pedro Braga
Estudante de Graduação do Instituto de Economia da Universidade Federal do Rio de Janeiro – IE/ UFRJ, Rio de Janeiro/RJ, Brasil.
Brazilian Journal of Political Economy, Vol. 39 No. 3 (2019), Jul-Sep / 2019, Pages 449-469

Abstract

This article contributes to the debate on income and wealth distribution in China by analyzing the main characteristics of the Chinese accumulation pattern that determine its distributive dynamics in a comparative perspective. After a period of rapid growth of inequalities, coupled with improved living conditions for all distribution deciles, inequalities have stabilized in China since the mid-2000s. Globally, China is today in a distributive pattern worse than Western Europe or Japan, but it is more egalitarian than the United States and far from theworld inequality frontier defined by Brazil, India, South Africa and the Middle East. In this article, we scrutinize three characteristics of the regime of accumulation in China that mitigate the capital-concentrating tendency: 1. the financialization process with Chinese characteristics, 2. the strategic share of State ownership in the economy, 3. its trajectory overthe agrarian question.

JEL Classification: O10; O53; D30; P16.


Keywords: Inequalities, China, capital accumulation, financialization, state ownership, agrarian question