Citation:
ZHANG Xingxiang. Expansion and Contraction of U.S. GSC:A Historical Perspective[J]. Academic Monthly, 2024, 56(9): 53-69.
Expansion and Contraction of U.S. GSC:A Historical Perspective
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Abstract
Since the beginning of the twenty-first century,the old framework of globalization has increasingly exposed problems such as unequal distribution of benefits.In particular,with the resurgence of the international financial crisis,coupled with the impact of the COVID-19 epidemic and geopolitical crises,and the rise of anti-globalization trends such as unilateralism and trade protectionism,there has been a contraction of the global supply chain,which seems to contradict Marx’s assertion that capital itself has an unlimited expansionary impulse.In the case of the United States,industrial capital drove the expansion of its global supply chain,and then finance capital took the lead,and in the process,finance capital and industrial capital gradually became inseparable.Eventually,the phenomenon of the contraction of the GSC of the United States during the financial capitalism phase emerged.Behind this strategic shift in the GSC is the embodiment of the law of the general contradiction movement of capitalism.The evolution of the U.S.GSC strategy is actually a temporary “retreat” driven by the nature of capital and the expediency of consolidating the core power of capital.From another perspective,since it is inevitable for capitalist development to fall into a predicament,the realization of a truly inclusive and equitable global supply chain is the key to sustainable development,and it is the common mission of all mankind to explore a new model of global supply chain development in order to replace the old one,and to avoid falling into the traps of the laws of capitalist development.
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