Risky Expertise in Chinese Financialisation
Returned Labour and the State-Finance Nexus
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Beschreibung
This book focuses on the subjectivities of stock market investors to explore tensions within the Chinese state’s engagement in contemporary financial capitalism. The book 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 intimes of crisis.
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.
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.
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
Autor*in
Giulia Dal Maso
Themen in »Risky Expertise in Chinese Financialisation«
Chinese Financialisation Haigui Returnee Migrants Shanghai Financial Market Governing Modern Chinese Experts Fostering Chinese Talent Abroad China-Australia Relationship Chinese Stock Market Ecology of Chinese Financial Expertise A new middle class in China
Stimmen zu »Risky Expertise in Chinese Financialisation«
"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)Giulia Dal Maso proposes to explore financial institutions in China through the subjectivity of people who study finance abroad and grapple to fit in when they come back. Partly inside and partly outside, aspiring and disappointed, qualified but marginalized, at the intersection of financial globalization and a state-backed national project, these subjectivities offer original standpoints to ask fruitful questions about financial expertise, financial institutions and financialization in China and abroad. Going beyond the boundaries of problematizations established for the analysis of financial institutions in Europe and the United States, Dal Maso’s brilliant analyses propose novel ways to interrogate the global roles of financial institutions and financial professionals. (Horacio Ortiz, Associate Professor, East China Normal University)()