State capitalism: how the return of statism is transforming the world

The term ‘State capitalism’ is a combination of the traditional economic planning of a state and ‘free-market’ competition, which includes openness to free trade and foreign investment. Over the past two decades, most of the developing countries have moved away from free-market economies to a modern state capitalism in which state has a direct control over two-third of the major corporations along with more free trade and overseas investment.