[lbo-talk] The 'BRIC' countries as a new 'pole' in the global order - A bubble trade?

dredmond at efn.org dredmond at efn.org
Sat Aug 30 10:58:20 PDT 2008


On Thu, August 28, 2008 1:54 pm, boddi satva wrote:


> What are these "development states" you speak of comprised of? Don't
> tell me what models there aren't, just tell me what institutions you're
> talking about - formal, semi-formal, cultural, whatever.

State intervention in the economy, as well as socialized networks of accumulation focused on long-term development, not short-term greed.

In addition to the sovereign wealth funds, there are also Korea's chaebol, Japan's keiretsu, China's state-industrial complex and township-village enterprises, Taiwan's business-state alliances, Singapore's EDB and Temasek, France's dirigisme, Central Europe's industrial networks and welfare states, the EU structural funds, Venezuela's social programs, Russia's investment funds and state champions - it's a long and growing list.

The geopolitical story of 2000-2008 has been the spread of the developmental state from its heartlands in East Asia and the EU to Eurasia, Latin America and Southeast Asia.

-- DRR



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