China's globalization challenge

Abstract

This paper analyses the nature of capitalist globalization during the past three decades. This period was dominated by US-led free market fundamentalism. This produced great benefits arising from intense oligopolistic competition. However, it also produced deep contradictions that threaten the sustainability of human life. Faced with these profound Darwinian threats, the human species needs to establish globally cooperative institutions to regulate intelligently the forces of wild capitalism that human beings have themselves created.