By Chang Kyung-Sup, Ben Fine, Linda Weiss (eds.)

ISBN-10: 1137028300

ISBN-13: 9781137028303

ISBN-10: 1349333328

ISBN-13: 9781349333325

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Extra info for Developmental Politics in Transition: The Neoliberal Era and Beyond

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Two aspects of sovereign fund development underline the impact of globalisation on their growth and operation. These have to do with the timing and circumstances of their rise. Although a few sovereign funds have been around for almost half a century, their rapid growth is much more recent. 7 Worldwide, there are now some 40 to 50 SWFs (depending on one’s definition), with most growth concentrated in the past two decades. 0 trillion and, based on several projections, could reach $10–12 trillion by 2015.

Also, the chaebol’s propensity to avoid productive negotiation with labour and fair dealings with minor enterprises blocks South Korea’s smooth transition to a flexible and innovative liberal economy. Given the tenacious anti-labour orientation of the state, in addition to the chaebol’s tenacious refusal to acknowledge labour as an equal partner for social and developmental goals, South Korea’s smooth evolution towards a relatively consensual political economy (as found in Continental and Scandinavian Europe, or even Japan) is not very likely.

1 The technology state: perpetual ladder climbing Under the technology label, we find industrialised states promoting new infant industries and governance structures central to the so-called knowledge and information economy but doing so often under new labels that can be accommodated by the global trade rules. Having set the multilateral trade rules to give them scope for this project, the industrialised nation states are currently embarked on a high-technology race – a race to sustain international competitiveness, energy security, and standards of living in a world with many new competitors.

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Developmental Politics in Transition: The Neoliberal Era and Beyond by Chang Kyung-Sup, Ben Fine, Linda Weiss (eds.)


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