The idea that China, once the center of world revolutionary passion, should lead global capitalism is as unexpected as it is ironic. But the emergence of the transnational capitalist class (TCC) has promoted a multi-centric world order where “everything solid melts into air.” Disappearing is the dominant position of the US, further undercut by the erratic nationalism of President Trump. With the US acting as if globalization is the unwanted step-child of its hegemonic power, the guardianship of transnational capital has fallen to the Chinese.
Harris, Jerry R.
"Who Leads Global Capitalism? The Unlikely Rise of China,"
Class, Race and Corporate Power: Vol. 6
, Article 8.
Available at: https://digitalcommons.fiu.edu/classracecorporatepower/vol6/iss1/8