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Luiz Carlos Bresser‐Pereira-2009-12-21-Cambridge University Press eBooks
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In global capitalism, there is a myth that nation-states have lost autonomy and relevance. In reality, given the competition that characterizes globalization, nation-states have become less autonomous, but, as a trade-off, their role has become more strategic. On the other hand, while the conservative Right transformed globalization into a neoliberal ideology confirming the economic and cultural hegemony of the United States, left-wing militants viewed it as a manifestation of imperialism and as a major obstacle to economic growth. But both sides have been proved wrong, as several middle-income countries – particularly the dynamic Asian ones – have achieved fast rates of growth. This fact confirms the economic doctrine that middle-income countries that have already overcome the poverty trap can catch up because they can count on cheap labor and are able to copy or buy relatively cheap technology. Indeed, since the 1980s, these countries have experienced such impressive growth that it h

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In global capitalism, there is a myth that nation-states have lost autonomy and relevance. In reality, given the competition that characterizes globalization, nation-states have become less autonomous, but, as a trade-off, their role has become more strategic. On the other hand, while the conservative Right transformed globalization into a neoliberal ideology confirming the economic and cultural hegemony of the United States, left-wing militants viewed it as a manifestation of imperialism and as a major obstacle to economic growth. But both sides have been proved wrong, as several middle-income countries – particularly the dynamic Asian ones – have achieved fast rates of growth. This fact confirms the economic doctrine that middle-income countries that have already overcome the poverty trap can catch up because they can count on cheap labor and are able to copy or buy relatively cheap technology. Indeed, since the 1980s, these countries have experienced such impressive growth that it h

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