Chinese Strategies of Delinking Amid the Implosion of Financial Imperialism

This article analyzes the Chinese strategies of delinking amid the implosion of financial imperialism. Drawing on Samir Amin’s theory of delinking and financial implosion, the authors outline the problem of financialization in the Old Cold War, Post-Cold War, and New Cold War. The article highlights the Chinese efforts to pursue industrialization in the 1950s and 1960s, when the country was first delinked by the United States and then the Soviet Union. Participation in the Korean War and the building of the Third Front were important in early industrialization. Today, industrialization in China is responding to delinking caused by financial imperialism. The article discusses the emerging geo-currency alliance between Russia and China against the Western sanctions, particularly after the outbreak of the Ukraine–Russia War. The article also provides examples of innovative technological experiments for ecological transformation in the current crisis, as well as the strengthening of the collective village economy for rural revitalization. In navigating the implosion of financial imperialism, China has explored and adopted alternative strategies for a soft landing amid the unfolding global crises.