Western and East Asian paths of economic development in Giovanni Arrighi's conception: Prospects in the 21 st century

The article examines the characteristic features of the East Asian path of development of the national market economy, which, according to Giovanni Arrighi, China developed, in comparison with the Western path. The authors determine the common and different elements in the trajectory of the historical movement of China and Russia in the capitalist world-system. They show the relationship between the different efficiency of China and Russia in the re-integration of their economies into the capitalist world-system with different approaches to building a national market economy when transforming the models of political and economic systems that existed in them. The authors argue that Arrighi did not sufficiently cover the role of external conditions and factors of the Chinese economy's successful development. The authors substantiate the necessity of taking into account Chinese peculiarities of state macroeconomic regulation in the accelerated development of the Russian economy. Arrighi's conception convincingly, in the authors' opinion, shows the negative impact of the Western way of “accumulation by dispossession” on the world economy and proves the urgent need for non-capitalist economic development. However, Arrighi's opinion that the presence of a market economy does not necessarily lead to capitalism is not indisputable and requires additional justification.