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Statist Globalization In China , Russia And The Gulf States

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Chapter Summary

Over the last few years a number of developing countries have emerged as global economic powers. This resulted from a rise in oil and commodity prices, foreign direct investments and a global shift in production. Much of this growth has been guided by governments and under the control of state corporations leading to the phenomenon of statist globalization. Most observers see the emergence of developing countries in the context of nation-centric power struggles. But statist globalizers are part of the transnational capitalist class (TCC) integrated at levels of production and finance. The result is a deepening of globalization, not a return to nation-centric competition. Feeding the foreign reserve funds of developing nations has been the explosion of oil and gas prices. In examining China, Russia and the Gulf states, we see that economic growth is understood as transnational accumulation through state corporate ownership.

Keywords:China; commodity prices; Gulf states; oil prices; Russia; statist globalization; transnational capitalist class (TCC)



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