ABSTRACT
Many observers have interpreted the turn of events over the past decade as the death struggle of the neoliberal project, and as signaling a return of the state and of statist regulation to the center stage of global capitalism. The countries outside the core, such as Brazil, India, and especially China, appear to have escaped relatively unscathed from the crisis, or at least have continued their economic and political rise arguably challenging the hegemony of the West. Stefan Schmalz and Matthias Ebenau provide an empirically rich contribution to the question of how the state–capital nexus is reconfigured in the context of the global crisis in three major rising powers (Brazil, India, and China). Herman Schwartz challenges the commonsense understanding of sovereign wealth funds as instruments of state capitalism reversing decades of neoliberal privatization. Bastiaan van Apeldoorn and Nana de Graaff analyze the role of the US state–capital nexus in what they call America's Open Door imperialism.
