Handbook of the International Political Economy of Trade
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Handbook of the International Political Economy of Trade

Edited by David Deese

David A. Deese brings together leading researchers and writers from different countries and disciplines in a coherent framework to highlight the most important and promising research and policy questions regarding international trade. The content includes fundamental theory about trade as international communication and its effects on growth and inequality; the domestic politics of trade and trends in government trade policies; the implications of bilateral and regional trade (and investment) agreements; key issues of how trade is governed globally; and how trade continues to define and advance globalization from immigration to the internet.
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Chapter 19: Capitalism in large emerging economies and the new global trade order

Christian May and Andreas Nölke


Large emerging economies have increased their share of the global economy quite substantially over the last few decades. While discussions about the international political economy previously centered on the US, the EU and Japan, such a focus is difficult to uphold today. In particular China, India and Brazil have surpassed the established economies in terms of GDP growth, trade growth and industry value added growth during the last 30 years (Figure 19.1). Although these figures fluctuate quite substantially every year, there are no sound reasons to assume that this long-term tendency is likely to reverse any time soon.

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