China's Falling Rate of Profit and the Coming Economic Crisis

China's rapid growth has been based on the intense exploitation of the working class, ruthless environmental degradation, and exports to the global capitalist market. However, all three conditions required for China's capital accumulation have been undermined. The contradictions of Chinese capitalism have led to a falling profit rate, which at current trends may soon fall towards levels historically associated with the Great Depression. A major economic crisis may seriously undermine the political legitimacy of China's current capitalist regime.