In a previous post written in July 2008 (Is China the new US?)  I explained the restoration of capitalism in China and its move towards imperialism. It was however, not yet an imperialist power. I concluded with this statement:

Is China Imperialist?

Today by the measure of the LOV China is capitalist. In that sense a rapidly growing powerful capitalist China could be considered imperialist. But what do we mean by imperialist? According to Lenin and imperialist country has a surplus of finance capital which must be exported to counter falling profits at home. That is, the possibilities of growth at home can only be sustained by the export of capital to earn super-profits in other countries, and be imported to the home country to maintain the rate of profit. Less important was the need to find new markets in which to sell the commodities produced in the home market…