Global Liberalization and Domestic Accommodation: The Case of the Chinese Socialist Market Economy

Abstract

In the current age of global liberalization, the ways of accommodating such liberalization at the state level are never uniform. What, then, are the factors that determine accommodation under global liberalization? This study tries to address this question by constructing a political- institutional model that links system-level globalization and state-level politics of accommodation. The model stresses political rationality rather than economic rationality and political institutions by which political rationality is bounded. This study also analyzes the Chinese socialist market economy as a typical case of the political-institutional model.