From the Perspective of “Regulation School” Looking at the “China’s Political Economy” and “Cultural State”

1970’s represents an important moment in the history of capitalism. During this period, to exit the crisis, on the one hand searching for new places for narrowing geography of capital, on the other hand an operational value is loaded cultural states of people who live ordinary lives in these places. The ordinary practices, cognitive structures, historical backgrounds, expectations and psychologies of people become visible as a form of regulation for the stability of the process of financialisation. These cultural states become a character that gives form to strategic-relationship between capital and the state that interferes the flow orbit of financial capital moving in global scope, which stuffs hegemonic strategies of state that imposed on the social area. The countenance of global-financial capital to the national space depends on the ability of the national state to keep a particular frame these cultural states. This study, using “regulation school”s conceptualization, tries to reach this cultural-social state in China; the contents of economy policy in China in the period after 1978 will emphasize intertwined with a social-cultural “pay the price”.