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USA, Global Capitalism and “Drawing China Out”

In: China's Rise in the Age of Globalization

Author

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  • Jianyong Yue

    (London School of Economics and Political Science)

Abstract

“Drawing China out” and integrating China into the international system has been the hard core of US–China policy since Nixon in the early 1970s. It was only after the end of the Cultural Revolution that such a grand strategy started to function with the onset of China’s “reform and opening.” The USA alternated inducement with coercion to foster China’s deep integration, allowing China to bandwagon with the liberal order whereby to achieve export-led high growth, on the condition that it relinquish economic nationalism. However, the USA has never intended to make China another Germany or Japan in economic or strategic terms. The strategy paid off as evidenced by China’s unprecedented opening to global capitalism and its entrenched dependencies on global capitalist system politically and economically.

Suggested Citation

  • Jianyong Yue, 2018. "USA, Global Capitalism and “Drawing China Out”," Palgrave Studies in Economic History, in: China's Rise in the Age of Globalization, chapter 6, pages 235-269, Palgrave Macmillan.
    • Handle: RePEc:pal:palscp:978-3-319-63997-0_6
    DOI: 10.1007/978-3-319-63997-0_6
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