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Risky Expertise in Chinese Financialisation

Returned Labour and the State-Finance Nexus

Authors: Dal Maso, Giulia

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  • Offers readers a detailed account of the rise of the Chinese stock markets, and how they are connected to the everyday dimension of Chinese financialisation
  • Gives an account of the historical heritage on which the distinctiveness of the Chinese financialisation can be traced
  • Provides investigation of the changing terms of Chinese political legitimacy and how this is connected to financialisation
  • Offers an insight into the changing relationship urban landscape and of the Chinese economic transformation that has shaken Chinese society since the People’s Republic commenced its opening and economic reforms
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  • ISBN 978-981-15-6824-4
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Hardcover £69.99
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About this book

This book focuses on the subjectivities of stock market investors to explore tensions within the Chinese state’s engagement in contemporary financial capitalism. It adopts a genealogical method to investigate how the production of foreign-trained financial experts (haigui) and informal experts (sanhu) points to paradoxes in China’s efforts to cultivate financial expertise. Chinese financialisation relates to the state’s project of financialising human capital in reaction to a contractualised labour market and the vanishing welfare state. Through ethnographic inquiry, Dal Maso shows the Chinese stock markets are crucial to the new redistributive regime where wage labour risks losing its primacy. Here, one can observe how the relationship between money and wages in China is being reworked and witness the development of a new economic order in which the state’s legitimacy becomes increasingly dependent on its capacity to jiushi–to rescue the market in times of crisis.

About the authors

Giulia Dal Maso is a postdoctoral researcher at the University of Bologna. Her research examines historical and contemporary dimensions of financialisation. She has published in South Atlantic Quarterly, Historical Materialism, Social and Cultural Geography and Journal of Cultural Economy.

Reviews

"One of the most incisive and innovative work that I have read on how finance power and state sovereign power intersect in the production of financialised subjects. Through rich ethnographic accounts and theoretical reflections on capitalist configurations, Giulia Dal Maso reveals how financialisation has transformed the boundaries between state and market, labour and leisure, knowledge and expertise, and the new frictions that are emerging. This book is essential reading not only for its insightful explanation of financialisation in China, but also for its astute arguments on the state-finance nexus in socio-economic transformation." (Karen P.Y. Lai, Associate Professor of Economic Geography, Durham University, UK)

"For too long, the story of China’s upswing has revolved around industrial resources and manufacturing manpower. Dal Maso’s clear-eyed analysis of financialization offers an update, and a strikingly new viewpoint, on the PRC economy. Required reading for China watchers!" (Andrew Ross, author of Fast Boat to China: Corporate Flight and the Consequences of Free Trade—Lessons from Shanghai)

“How can we decode the connections, at once subjugating and fragile, that tie a governmental project of economic control to the unfolding of a liberal financial subjectivity? Giulia Dal Maso undertakes that task brilliantly in the Chinese territory of finance.” (Fabian Muniesa, research director, Ecole des Mines de Paris, France)

"How does financialization with Chinese characteristics look like? If this question interests you, then Giulia Dal Maso’s book is a must-read. Dal Maso provides a brilliant analysis of the working of financial markets in China focusing on the subjective figures that populate them and highlighting emerging tensions and potential conflicts. Moreover, such concepts as financial capitalism and financial labor are tested in this book in ways that are relevant even beyond the Chinese case." (Sandro Mezzadra, University of Bologna, Italy)

Table of contents (7 chapters)

Table of contents (7 chapters)

Buy this book

eBook £55.99
price for United Kingdom (gross)
  • ISBN 978-981-15-6824-4
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover £69.99
price for United Kingdom (gross)
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Bibliographic Information

Bibliographic Information
Book Title
Risky Expertise in Chinese Financialisation
Book Subtitle
Returned Labour and the State-Finance Nexus
Authors
Copyright
2020
Publisher
Palgrave Macmillan
Copyright Holder
The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.
eBook ISBN
978-981-15-6824-4
DOI
10.1007/978-981-15-6824-4
Hardcover ISBN
978-981-15-6823-7
Edition Number
1
Number of Pages
XIII, 225
Topics