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      World Review of Political Economy

      Volume 6, Issue 3
       
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      A Marxist Approach of the Middle-Income Trap in China

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      Publication date (Print):
      Journal: World Review of Political Economy
      Publisher: Pluto Journals
      Keywords: China, middle-income trap, unit labor cost, rate of profit

            Abstract

            Since 2012, China is confronted with a slowing down of its economic growth, and various studies about the middle-income trap wonder about the capacity of this country to reach the category of high-income per capita countries. Most of the time, the increase of wage costs, and more particularly of unit labor costs, is accused of being responsible for this slowing down, through the loss of international competitiveness in particular. Nevertheless, it is important to put in perspective this explanation, because the increase of the unit labor cost seems less dangerous than the decrease of capital productivity, which a reversion to the Marxist analysis allows us to better understand.

            Content

            Author and article information

            Journal
            Journal ID (doi): 10.13169
            Journal ID (publisher-id): worlrevipoliecon
            Title: World Review of Political Economy
            Publisher: Pluto Journals
            ISSN (Print): 2042891X
            ISSN (Electronic): 20428928
            Publication date (Print): Fall 2015
            Volume: 6
            Issue: 3
            Pages: 298-319
            Article
            Publisher ID: worlrevipoliecon.6.3.0298
            DOI: 10.13169/worlrevipoliecon.6.3.0298
            SO-VID: f22b97cf-641f-413d-83ab-acc9cf68868a
            Copyright © Copyright 2015 World Association for Political Economy
            License:

            All content is freely available without charge to users or their institutions. Users are allowed to read, download, copy, distribute, print, search, or link to the full texts of the articles in this journal without asking prior permission of the publisher or the author. Articles published in the journal are distributed under a http://creativecommons.org/licenses/by/4.0/.

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            Categories
            Subject: Articles

            ScienceOpen disciplines: Political economics
            Keywords: unit labor cost,China,rate of profit,middle-income trap

            Note

            1. See CEIC, the China Economic and Industry Data, https://www.ceicdata.com/en/countries/china.

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