Luyao Che is a PhD candidate in international economic law. She holds a Bachelor in Laws degree from Jilin University (China) and Master in Laws degree from Renmin University of China. Her research focuses on the development of international economic order.
Research Topic: State Capitalism and the International Economic Order
State capitalism, the economic model differing from the free-market capitalism has drawn attentions recent years due to the fast economic growth in emerging market, and the recent global financial crisis. The main features of state capitalism include, firstly, state ownership is of vital importance to state capitalism. Secondly, state has the authority to design an integral layout of the economic development and enable the long-term growth strategies. Thirdly, state employs a range of measures to implement the governmental plans. In short, state capitalism melds the powers of the state and capitalism. The coexistence of and competition between state capitalism and liberal capitalism seem to be inevitable.
Existing research on state capitalism is seriously insufficient for the listed reasons: First, there is a lack of systematized study. Second, there is an absence of study from legal perspective. Third, people tend to view state capitalism as a black-and-white phenomenon as if there is only one winner from the contest between state capitalism and liberal capitalism, but the real question is whether state capitalism is as dynamic and resilient as liberal capitalism.
This research intends to explore an under-theorized and largely unexplored question: how does the rise of state capitalism challenge the existing international economic order and how should international economic law respond to these challenges? To answer this overarching research question, the evolution of state capitalism in history and its recent rise in the world economy will be traced. Also, this project will explore the nature of state capitalism, how it works and how it undermines the liberal international economic order.
Professor Mary E Footer
Dr Ugljesa Grusic
2013, intern, Dowway & Partners law firm, Beijing, China