Geopolitics and the 'New' State Capitalism

• Published in: Geopolitics 2022-05, Vol.27 (3), p.995-1023
• Main Authors: Alami, Ilias, Dixon, Adam D, Gonzalez-Vicente, Ruben, Babic, Milan, Seung-Ook Lee, Medby, Ingrid A., Graaff, Nana de
• Format: Article
• Language: English
• Subjects: Banking; Capitalism; Economic activity; Economic models; Geopolitics; Global economy; Historical materialism; Narratives; Organizational power; Political economy; Political geography; Political power; Power structure; State capitalism; State power; Trade; Wealth
• ISSN: 1465-0045; 1557-3028
• DOI: 10.1080/14650045.2021.1924943

We may be witnessing the emergence of a new 'state capitalist' normal, a term this Forum proposes to problematise in its geopolitical dimensions. The growing prevalence of state-sponsored entities (encompassing state enterprises, policy banks, and sovereign wealth funds) as leading vehicles of economic activity is a defining feature of our times. This reassertion of state authority is altering configurations of state and corporate power across the world economy while generating a multiplicity of geopolitical tensions. This Forum reflects upon what it means, theoretically, methodologically, and politically, to articulate a geopolitics of contemporary state capitalism. It brings together interventions which draw on various theoretical approaches, including critical political geography, historical materialism, geographical political economy, and power structure research, in order to probe into the multiple spatialities at the core of contemporary state capitalism. The contributions aim to destabilise the assumptions and taken-for-granted ideas which have largely framed the debate thus far, including problematic binaries such as liberal/illiberal, state/market, commercial/geopolitical logics, and realist narratives of interstate power-maximising behaviour. Studying the (geo)political re-organisation of global capitalism requires moving beyond the castigation of a 'rogue' state capitalism as well as narratives of a clash between rival political-economic models, and disassembling the category state capitalism.