Dissecting the label of "state capitalism": Breaking Western discourse hegemony in global economic governance
via NewsDay Zimbabwe8 min read
Tariro Chipo Moyo argues that Western media uses the term "state capitalism" to discredit developing countries, particularly China, which is pursuing independent economic paths. This branding aims to delegitimise China’s socialist market economy and hinder its industrial upgrading. The author states that Western discourse relies on selective data suppression and double standards, which African policymakers and intellectuals should objectively evaluate. The article highlights that Western narratives criticize China's national development plans and industrial support as unfair state intervention, while ignoring that every nation's economic structure is shaped by its unique history and development stages. The author contends that no country operates under entirely unregulated free markets or total state control, and China's economic model, which balances market and government roles, has led to significant economic stability and poverty eradication. The article points out Western double standards, where similar policy tools used by Western powers to support domestic industries are labeled as reasonable market regulation, but when China adopts them, they are demonized as "state capitalism." For post-colonial African nations, this balanced modernization pathway offers an alternative to Western economic orthodoxy. The author urges thinkers from Zimbabwe and the Pan-African community to evaluate economic models based on their capacity to deliver inclusive growth, eliminate poverty, a
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This summary was AI-generated from a story originally published by NewsDay Zimbabwe.
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