“BRICS – New Shareholders in the Global Capitalist System,” Interview with Sean Starrs by Rafał Wiśniewski, R/evolutions: Global Trends & Regional Issues, Vol 3, No. 1, 2015, (ISSN: 2449-6413), pp. 96-118.
THERE IS NO INDICATION THAT THE
BRICS ARE SERIOUSLY CONTEMPLATING
CHALLENGING THIS CENTRAL ROLE... more THERE IS NO INDICATION THAT THE
BRICS ARE SERIOUSLY CONTEMPLATING
CHALLENGING THIS CENTRAL ROLE OF THE
UNITED STATES (GLOBAL CONSUMER OF
LAST RESORT, WORLD CENTRAL BANKER,
GLOBAL MILITARY BALANCER AND GUARANTOR, AMONG OTHERS), WHETHER
AS A BLOC OR SEPARATELY. CERTAINLY
THE ARRIVAL OF MORE ACTORS ITSELF
CANNOT BE USED AS EVIDENCE THAT
THESE NEW ACTORS ARE ATTEMPTING TO
FUNDAMENTALLY CHALLENGE THE NATURE
OF GLOBAL CAPITALISM.” – ASSESSES
SEAN STARRS, RECOGNIZED RESEARCHER
OF THE US’ GLOBAL ECONOMIC POWER
FROM CITY UNIVERSITY OF HONG KONG,
INTERVIEWED BY RAFAL WISNIEWSKI
FROM THE R/EVOLUTIONS EDITORIAL
TEAM
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This paper argues that a fundamental failing in the debate on the decline of American economic power is not taking globalization seriously. With the rise of transnational corporations (TNCs), transnational modular production networks, and the globalization of corporate ownership, we can no longer give the same relevance to national accounts such as balance of trade and GDP in the twenty-first century as we did in the mid-twentieth. Rather, we must summon data on the TNCs themselves to encompass their transnational operations. This will reveal, for example, that despite the declining global share of United States GDP from 40% in 1960 to below a quarter from 2008 onward, American corporations continue to dominate sector after sector. In fact, in certain advanced sectors such as aerospace and software—even in financial services—American dominance has increased since 2008. There are no serious contenders, including China. By looking at the wrong data, many have failed to see that American economic power has not declined—it has globalized.
In "Jacobin", May 13, 2015
This paper argues that a fundamental failing in the debate on the decline of American economic power is not taking globalization seriously. With the rise of transnational corporations (TNCs), transnational modular production networks, and the globalization of corporate ownership, we can no longer give the same relevance to national accounts such as balance of trade and GDP in the twenty-first century as we did in the mid-twentieth. Rather, we must summon data on the TNCs themselves to encompass their transnational operations. This will reveal, for example, that despite the declining global share of United States GDP from 40% in 1960 to below a quarter from 2008 onward, American corporations continue to dominate sector after sector. In fact, in certain advanced sectors such as aerospace and software—even in financial services—American dominance has increased since 2008. There are no serious contenders, including China. By looking at the wrong data, many have failed to see that American economic power has not declined—it has globalized.
In "Jacobin", May 13, 2015
With the roaming conflict in Ukraine and the Chinese stirring up geopolitics in the South China Sea, we can almost feel the tectonic plates of the global order scraping past each other. If we look at the BRICS, the maturing organization that links these actors with each other and two other continents, we ask ourselves how this fits into the picture? What are the consequences of BRICS’ emergence? Does it signify a shift in the global distribution of economic and military power? Is there really something like a BRICS bloc in international economic and political relations? If yes, then what it stands for? Does it challenge the current US-led international order? The first part of this Global Trend: BRICS – More than an Acronym? focuses on the existing organization and its behavior to assess if they are more than the sum or their parts. The second part: In the Shadow of BRICS – Future global actors will look at “what makes BRICS tick,” and identify some opportunities, but mostly challenges for the next echelon of global powers.
BRICS ARE SERIOUSLY CONTEMPLATING
CHALLENGING THIS CENTRAL ROLE OF THE
UNITED STATES (GLOBAL CONSUMER OF
LAST RESORT, WORLD CENTRAL BANKER,
GLOBAL MILITARY BALANCER AND GUARANTOR, AMONG OTHERS), WHETHER
AS A BLOC OR SEPARATELY. CERTAINLY
THE ARRIVAL OF MORE ACTORS ITSELF
CANNOT BE USED AS EVIDENCE THAT
THESE NEW ACTORS ARE ATTEMPTING TO
FUNDAMENTALLY CHALLENGE THE NATURE
OF GLOBAL CAPITALISM.” – ASSESSES
SEAN STARRS, RECOGNIZED RESEARCHER
OF THE US’ GLOBAL ECONOMIC POWER
FROM CITY UNIVERSITY OF HONG KONG,
INTERVIEWED BY RAFAL WISNIEWSKI
FROM THE R/EVOLUTIONS EDITORIAL
TEAM