CCP authority and the two faces of uncertainty
in Communists constructing capitalism
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Chapter 3 develops an analytic framework for understanding how the financial system underpins a particular path of politico-economic development. It first examines how the concept of uncertainty and its relationship to financial risk is fundamental to making socio-economic action possible, a process with both economic and political implications. The management of uncertainty not only generates the potential for economic growth, but also contains the mechanisms for structuring that growth in particular ways. The chapter thus embeds the role of the CCP in socio-cultural and historical context, reconceptualizing it as the key locus of authority around which this management and exploitation of uncertainty takes place in Chinese capitalism.

Communists constructing capitalism

State, market, and the Party in China’s financial reform

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