![]() ![]() State-owned enterprises (SOEs), policy banks, sovereign wealth funds (SWFs), and other state-sponsored entities have become leading vehicles of global economic activity since the early 2000s. Taking this definition, state capitalism is alive and well. State capitalism broadly refers to configurations of capitalism where the state plays a strong role in supervising and administering capital accumulation, or in directly owning and controlling capital. Studying the (geo)political re-organisation of global capitalism requires moving beyond the castigation of a ‘rogue’ state capitalism as well as narratives of a clash between rival political-economic models, and disassembling the category state capitalism. The contributions aim to destabilise the assumptions and taken-for-granted ideas which have largely framed the debate thus far, including problematic binaries such as liberal/illiberal, state/market, commercial/geopolitical logics, and realist narratives of interstate power-maximising behaviour. It brings together interventions which draw on various theoretical approaches, including critical political geography, historical materialism, geographical political economy, and power structure research, in order to probe into the multiple spatialities at the core of contemporary state capitalism. This Forum reflects upon what it means, theoretically, methodologically, and politically, to articulate a geopolitics of contemporary state capitalism. This reassertion of state authority is altering configurations of state and corporate power across the world economy while generating a multiplicity of geopolitical tensions. The growing prevalence of state-sponsored entities (encompassing state enterprises, policy banks, and sovereign wealth funds) as leading vehicles of economic activity is a defining feature of our times. We may be witnessing the emergence of a new ‘state capitalist’ normal, a term this Forum proposes to problematise in its geopolitical dimensions.
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