Transnational Capital and the Trend of Global Interactions. Issue 2 (2nd April 2020)

• Record Type: Journal Article
• Authors: Wei, Xiaoping
• Is Part Of: International critical thought. Volume 10:Issue 2(2020)
• Page Start: 251
• Page End: 262
• Publication Date: 2020-04-02
• Subjects: Globalization -- transnational capital -- global system; Critical thinking -- Periodicals; Current events -- Periodicals; 153.4205
• DOI: 10.1080/21598282.2020.1783694
• Languages: English
• ISSNs: 2159-8282

Abstract

ABSTRACT: Economic globalization has been accompanied by the cross-border development of class relations. Resting on large-scale cross-border operations by transnational corporations, capital is accelerating the formation of a transnational capitalist class. The capitalist world has formed new, contradictory relations based on a multitude of existing inherent contradictions, rendering the world situation still more complex. In the late twentieth century, a number of scholars began to focus on this phenomenon, discussing various of its aspects such as the gap between rich and poor brought about by the formation of a transnational capitalist class on a global scale; the transnational capitalist class and the question of global hegemony; and the relation between the transnational capitalist class and the world system. Their discussions have since attracted the attention of Chinese scholars. This paper presents a basic theoretical analysis of the above phenomenon using the methodology of historical materialism, while also summarizing and commenting on the opinions of representative scholars.