Mapping a New World OrderDOI: 10.4337/9781786436481.00011 View full text
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Luiz Carlos Bresser-Pereira

Abstract: The Rest will be able to catch up and grow faster than the West only if it goes against a "received truth", namely that capital-rich countries should transfer their capital to capital-poor countries. This intuitive truth is the mantra that the West cites to justify its occupation of the markets of developing countries with its finance and its multinationals. Classical Developmentalism successfully criticized the unequal exchange involved in trade liberalization, but it didn't succeed in criticizing foreign fin…

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