With the US and China, Two Types of Capitalism Are Competing With Each Other

Capitalism’s global victory has been achieved through two different types of capitalist systems: the liberal meritocratic capitalism that has developed incrementally in the West, and the state-led authoritarian capitalism that is exemplified by China. Regardless of who wins, it is unlikely that one of the two will come to rule the entire globe, writes Branko Milanovic in his new book.  

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Is China’s International Joint Venture Policy Effective in Diffusing Technology?

The US administration launched a trade war against China in response to what it sees as unfair trade practices—especially the requirement that foreign firms entering “restricted” sectors partner with a Chinese firm. New research from an international team of economists gauges whether the requirement has the intended effect of diffusing technology transfer in these sectors, and finds the answer is a resounding yes.  

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Baldwin on Globalization: “A Lot of the Narrative Is Based on the US as If It Were the Whole World”

Richard Baldwin, professor of international trade at the Graduate Institute of Geneva and editor-in-chief of VoxEU.org, talks to ProMarket about the convergence between the G7 and emerging countries, the United States’ failure to build a social contract to mediate the changes of globalization, and his confidence that—rumors of trade war notwithstanding—the international trade regime is actually quite resilient.  

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