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1 results

  • Capitalism without Capital: Capital Conversion and Market Making in Rural China*

  • Xueguang Zhou, Yun Ai
  • Journal:
    The China Quarterly / Volume 219 / September 2014
    Published online by Cambridge University Press:
    22 August 2014, pp. 693-714
    Print publication:
    September 2014

  • Situated in an agricultural township in northern China, this study examines the rise of produce markets in rural China in the face of a chronic shortage of financial capital. Drawing on theoretical ideas in economic sociology, we explicate the mechanisms of gift exchange and credit taking and the conditions under which these mechanisms are used to mobilize financial capital and to facilitate market transactions in the absence of financial capital. We illustrate these issues and ideas using our fieldwork research on different produce markets and entrepreneurial activities.