“For the capitalist world-economy, the problem of China lies with its huge size. China has a labor force that is larger than the total labor force in all of the core states, or that in the entire historical well0to-do semi-periphery. As China competes with the well-to-do semi peripheral states in a wide range of global commodity chains, the competition eventually would lead to the convergence between China and the historical well-to-do semi-peripheral sates in profit races and wage rates. This convergence may take place in an upward manner or a downward manner.”

— Li Minqi

Source: The Rise of China and the Demise of the Capitalist World-Economy (2008), Chapter Two, "Accumulation, Basic Needs, and Class Struggle: the Rise of Modern China"

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Li Minqi 4

Chinese economist 1969

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Li Minqi 4

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