Redefining Capitalism in Global Economic Development

Redefining Capitalism in Global Economic Development reconsiders capitalism by taking into account the unfolding forces of economic globalization, especially in Asian economies. It explores the economic implications and consequences of recent financial crises, terrorism, ultra-low interest rates that are decades-long, debt-prone countries and countries with large trade surpluses.

The book illuminates these economic implications and consequences through a framework of capitalist ideologies and concepts, recognizing that Asia is redefining capitalism today. The author, Li, seeks not to describe why nations fail, but how the sustainability of capitalism can save the world.

Merges capitalist theory with global events, as few books doEmphasizes ways to interpret capitalist ideas in light of current global affairsReframes capitalism via economics, supported by insights from political science, sociology, international relations and peace studies

Section I Capitalism: Theories, Concepts and Behavior 1. The Individual 2. Inequality, Poverty, and Opportunity 3. Role of Government 4. Conceptual Differences between Economics, Welfare, and Politics 5. Capitalism and Socialism: Sustainability versus Popularity 6. Economic Relativity: The Ultimate of Capitalism?

Section II The Global Economy: Performance, Classification and Challenges:  The World Divided 7. The Top Ten World Economies 8. The Five Groups of World Economies 9. The 2008 Crisis: The World’s Turning Point? 10. Perfecting Capitalism 11. Canada: Becoming a Model Economy?

Section III Capitalist Development: Asian Style 12. The Japan Economy: Successes and Challenges 13. East Asia: Flying Geese against Wind Current? 14. The Late Comers: ASEAN and China 15. The Political Economy Debates

Section IV The Frontier of Capitalism: China versus Hong Kong 16. Sun’s Three Principles, and Three Mistakes 17. The China Economy: The Missing Links 18. The Hong Kong Economy: The Pivot of China? 19. The Battle of Capitalism: Hong Kong Post-1997

Section V Conclusion 20. Why Nations Succeeded? 21. How Can Capitalist Economies Save the World?