State Capitalism and the Global Economy

In The End of the Free Market, Ian Bremmer details the growing phenomenon of state capitalism, a system in which governments drive local economies through ownership of market-dominant companies and large pools of excess capital, using them for political gain. This trend threatens America’s competitive edge and the conduct of free markets everywhere. Bremmer follows the rise of state-owned firms in China, Russia, the Arab states of the Persian Gulf, Iran, Venezuela and elsewhere. He demonstrates the growing challenge that state capitalism will pose for the entire global economy. Are we on the brink of a new kind of Cold War, one that pits competing economic systems in a battle for dominance? Can free market countries compete with state capitalist powerhouses over relations with countries that have elements of both systems—like Brazil, India and Mexico? Does state capitalism have staying power?