To view this PAPER PRESENTATION, search for the session title in the Browse by Titlelisting. (See the session title located immediately below ["In Session:"])
In Session: COVID-19: Inequality and States of Exception in Global Asia
5: The Planned Market in China's COVID-19 Response
Tuesday, March 23, 2021
3:00pm – 4:30pm EDT
University of Massachusetts, Amherst, United States
This paper seeks to explain the economic governance that underpinned China’s handling of the health care crisis and economic shut-down triggered by COVID-19. We identify a form of state-market interaction distinct from that observed in the U.S. and European crisis response. We show how China used its state commercial system to mobilize private and state-owned enterprises to ramp up the production of urgently needed medical supplies and to ensure the distribution of food and personal protective equipment during the national quarantine. We conceptualize this mode of governance as a specific form of state capitalism which we call the ‘planned market’: the state governs through mobilizing the market. Capitalist relations of production and the market mechanism prevail but are mediated by the state to draw resources into the fight against the pandemic.