Sino-style state capitalism

24 May Sino-style state capitalism

The origins of mercantilism can be traced in Europe back through the late Renaissance and early modern period (from the 15^th to the 18^th century). Under the mercantilist doctrine of economic protectionism trade between the neighboring colonies of rival empires was discouraged. Economic nationalism is a 20^th century offspring of mercantilism. It emphasizes domestic control of the economy, of labor, and of capital formation. In many cases, economic nationalists oppose globalization, or at least question the benefits of market fundamentalist notions of free-trade.  State capitalism is the mercantilism of the 21^st century. This economic model blends the powers of the state with the powers of capitalism. In essence, state capitalism is system in which the state manages the performance of markets and of companies to bolster the power of the state and its long-term political survival.  Today, China is its preeminent practitioner.