State capitalism vs free markets
Is the global economic downturn proof that western-style capitalism has failed?
Countries like China and India which practice varying forms of controlled “state capitalism” appear to be emerging from the global economic crisis stronger, both economically and politically. But will this state capitalist bubble eventually burst as well?
Now that free market economies are being increasingly intertwined with state capitalist nations, are we in the middle of a battle for dominance between the two systems?
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Is the global economic downturn proof that freewheeling western-style capitalism has failed?
And is state-controlled capitalism a viable alternative to the free market, or could it be the world economy’s greatest threat?
Joining Riz is leading economist Ian Bremmer, whose latest book is The End of the Free Market: Who Wins the War Between States and Corporations.
This episode of the Riz Khan show aired from Monday, July 26, 2010.