Abstract
Part One of this article provides a novel condensed Marxist account of China's rapid economic growth which underpins its rising geopolitical and military power. In the vast literature on China's rise, pro-market reforms and/or state policy-making and interventionism are emphasised as causes, depending on whether a neoliberal or neomercantilist perspective is adopted. Although these accounts contain important elements of truth, Marxist economic theory and the theory of uneven and combined development emphasise the central role played by China's comparatively high rates of exploitation and profitability in fuelling rapid economic growth. This Marxist perspective informs a critical analysis of China's hybrid neoliberal policy regime, regionally decentralised system of government, huge trade surpluses and foreign currency reserves, inflows of foreign direct investment, state investment in infrastructure, rising socio-economic inequality, poor social provision especially of public health care, popular support for and potential sources of opposition to the CCP regime, and military modernisation.