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49 Soc. Change 7 (2019)

handle is hein.journals/sclcnge49 and id is 1 raw text is: Article China's Strategic Social Change 49(I) 7-22, 20 19 Responses to Crises and Reprints and s01s S l • n in sagepub.coR/journalpermissions-inda for Rural Vitahisation Dol:lo0.1 1z77/7oo04908s577ss281749 journals.sagepub.com/home/sch $SAGE Sit Tsui, Lau Kin Chi2 Erebus Wong3 Wen Tiejun4 The tyranny of global monopoly-finance capital can be seen in part as monetary geopolitics backed by military power. It directly appropriates, through investment schemes, production gains from the physical and resource economies of developing countries. At the same time, it engages in financial speculation by means of buying long and selling short in capital markets. The end result is the plundering of social wealth. China is not immune to this tyranny. This article analyses how China negotiates with the effects ofglobal financial crises through adopting the policy ofstrategic transformation towards ecological civilisation and rural revitalisation. In addition, the grassroots initiative of rural reconstruction movement has played an important role in the ongoing transformative process. Keywords China, economic crises, sannong, rural vitalisation Introduction Throughout China's 69-year history of industrialisation and financialisation, whenever the cost of an economic crisis could be transferred to the rural sector, capital-intensive urban industries would achieve a 'soft landing' and existing Associate Professor, Rural Reconstruction Institute, Southwest University, Chongqing, China. 2 Associate Professor, Department of Cultural Studies, Lingnan University, Hong Kong. 3 Senior Researcher, Kwan Fong Cultural Research and Development Program, Lingnan University, Hong Kong. 4 Executive Dean, Institute of Rural Reconstruction of the Straits, Fujian Agricultural and Forestry University, Fuzhou, China. Corresponding author Sit Tsui, Rural Reconstruction Institute, Southwest University, Chongqing, China. Email sittsui@gmail.com

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