31 May New players and a new order?
Contemporary state capitalism is more complex than the protectionist models of yesteryear. It entails a more sophisticated generation of managers who have learned about commerce in the world’s best business schools and who embrace globalization. As such, state capitalists use free-market tools to kick-start growth. It is this complexity that has engendered various models of state capitalism around the world. This diversity is most evident in the so-called BRICS (Brazil, Russia, India, China, and South Africa) but it is also apparent in developing-market nations like Algeria, Argentina, Chile, Indonesia, Nigeria, Oman, Qatar, Saudi Arabia, Thailand and Vietnam. These rising nations are increasingly making judgments that reverberate throughout global markets and are rearranging the global economic order in the process.
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