Changing Capitalism; The Reordering of the Global Economy Seen from the Perspective of Change in the Latin American and Asian Forms of Capitalism

Changing capitalism; the reordering of the global economy seen from the perspective of change in the Latin American and Asian forms of capitalism

The goal of this paper is to elaborate the framework for debate in the panel. Using existing typologies and research on forms of capitalism in Asia and Latin America, it will draw on selected examples of firms and states in order to provide initial data on how the restructuring of capitalism in the neo-liberal era has opened up new institutional and firm level logics. It therefore consists of the following sections;

1. An account of the changing position of emerging economies in the global economy under the neo-liberal growth regime, focusing on;
   1. The impact of free movement of capital and the growth of FDI
   2. The disaggregation of the firm and the growth of networks of multinational subsidiaries and of offshoring and outsourcing relations.
   3. The impact of these processes on institutions, institutional complementarities and institutional change in developed and emerging economies
2. An initial analysis of the different positions of Latin American and Asian economies in the changing division of labour within capitalist organization focusing on;
3. 1. Embedded historical differences
   1. State capacities
   2. Relationship between state and economic organization
   3. Role of elites and nature of class relations
   4. Role of outside actors
   2. Recent responses to neo-liberal order
   1. Entry of FDI and establishment of MNCs
   2. Role in outsourcing and offshoring
   3. Efforts at upgrading and capturing spillover effects
   4. Financial crises, restructuring and the role of outsiders
   5. OFDI and the growth of ‘new’ multinationals
   6. Creation of home market consumers
4. Positioning firms, institutions and localities in global value chains and global competition (a)  In home market (b) In overseas market (c) Within MNC firms (d) Contractors for MNC firms
5. Examining the impacts of these changes on
6. 1. Inequalities
   2. National and regional patterns of economic growth
   3. Sustainable development and the social responsibility of corporate forms.
   4. Power of traditional and new elites
   5. Emergence of new social movements and political forces
7. Conclusions – diversity and commonalities across capitalism and forms of capitalism in Latin America and Asia