What is it about?
This article compares how Brazil and China have used state capitalism as a strategy to enhance their global influence in the 21st century. While both countries share similar preferences for becoming rule-makers in international politics and have benefited from a changing global liberal order, their approaches diverged significantly. Brazil pursued a centralized, short‑sighted state capitalism (2005–2016) that relied heavily on the BNDES and was eventually derailed by corruption scandals and political crises. In contrast, China adopted a multilevel, proactive state capitalism through its "Going Global" and Belt and Road initiatives, which proved more resilient and long‑lasting due to stronger state capacity, decentralized coordination, and strategic long‑term planning.
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Why is it important?
The article matters because it moves beyond abstract debates about state capitalism and provides a concrete, evidence-based explanation of why some state-led strategies endure and others unravel — a question of great relevance for emerging economies today.
Perspectives
The state has always played a pivotal role in economic development. In a globalized world, this role has not been eroded; it is critical for long-term strategies that help countries expand globally in both economic and political dimensions. China has become a textbook example of how a state successfully fulfills this role.
Dr. Helder Ferreira Do Vale
XianJiaotong-Liverpool University (XJTLU)
Read the Original
This page is a summary of: State capitalism in a changing global order: Brazil and China’s strategies for greater global influence, Research in Globalization, December 2024, Elsevier,
DOI: 10.1016/j.resglo.2024.100265.
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