In the late eighteenth century, the political ecomist Adam Smith predicted an eventual equalization of power between the conquering West and the conquered n-West. Demonstrating Smith's continued relevance to understanding China's extraordinary rise, Arrighi examines the events that have brought it about, and the increasing dependence of US wealth and power on Chinese imports and purchases of US Treasury bonds. In the 21st century China may well become again the kind of n-capitalist market ecomy that Smith described, under totally different domestic and world-historical conditions.
GIOVANNI ARRIGHI is Professor of Sociology at John Hopkins University, USA. His books include The Long Twentieth Century, and his work has appeared in many publications, including New Left Review.