The rise of state capitalism – The spread of a new sort of business in the emerging world will cause increasing problems by The Economist. “State-directed capitalism is not a new idea: witness the East India Company…In the 1990s most state-owned companies were little more than government departments in emerging markets; the assumption was that, as the economy matured, the government would close or privatise them. The Brazilian government, which embraced privatisation in the 1990s, is now interfering with the likes of Vale and Petrobras, and compelling smaller companies to merge to form national champions.” See PDF Attached
