Yu Bin: New Imperialism is the Final Stage of Imperialism
Yu Bin[1]
[Abstract] Lenin once indicated that imperialism is the highest stage of capitalism, based primarily on the fact that money capital is separated from industrial capital at the highest level and the dominance of finance capital is established. Nowadays, new imperialism is the final stage of imperialism, based primarily on the fact that big capital begins to be separated from production and gains profits mainly through power. The imperialism stage emerged in Europe during the early 20th century, with capital export as a typical economic feature. The new imperialism stage emerged in the 1970s, with paper money export, also known as IOU export, as a typical economic feature. In addition, new imperialism also collects rents based on intellectual property rights and levies carbon taxes on excess emissions by manipulating the power to mandate the quota of carbon emissions. As the balance of power evolves, conflicts arise between new imperialist countries and forces that are engaged in IOU export. The end of new imperialism and the total extinction of capitalism are not only inevitable but also imminent. This is why changes unseen in a century are underway.
[Key Words] New imperialism; Imperialism; IOU export; Knowledge rent; Carbon tax
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[1] Yu Bin, the director and researcher of the Department of Marxist Principles Research, Academy of Marxism, Chinese Academy of Social Sciences.