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How Emerging Forms of Capitalism Are Changing the Global Economic Order CHrISt OpHEr A. MCN Ally ISSUES Analysis from the East-West Center S UMMA r y The US model of free-market capitalism has been a dominant No. 107 February 2013 force in the post-communist world order, setting the agenda for economic The East-West Center promotes better rela- tions and understanding among the people governance and development. That supremacy, however, was severely tarnished and nations of the United States, Asia, and the Pacific through cooperative study, research, by the 2008 global financial crisis, increasing the potential for new challenges and dialogue. Established by the US Congress in 1960, the Center serves as a resource for from alternative economic models. Now, models of capitalism espousing more information and analysis on critical issues of common concern, bringing people together to state involvement as practiced in Brazil, Russia, India, and, especially, in China exchange views, build expertise, and develop policy options. The Center is an independent, are contenders on the political economic landscape of the world. They are public, nonprofit organization with funding from the US government, and additional support engineering rapid growth by adapting core tenets of the free-market capitalist provided by private agencies, individuals, foundations, corporations, and governments model and embracing globalism. At the same time, they maintain state owner- in the region. ship of key enterprises and varying degrees of state control over the financial Papers in the AsiaPacific Issues series feature topics of broad interest and significant impact sector. While these practices certainly challenge the free-market status quo, the relevant to current and emerging policy debates. The views expressed are those of the author mentality that views free-market vs. state-controlled capitalism as a zero-sum and not necessarily those of the Center. game...