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...energy resources. (Many of these companies invited in private investors in the 1990s only to throw them out later.) And by protecting parts of their economy at a time of massive global business consolidation, the state capitalists have built companies capable of competing, and winning, in industries that require scale. According to a study by the American Enterprise Institute research organization, unfree states have grown faster than politically free ones in the past 10 years...
...recent years several states have quietly been remaking themselves into international financial players, on a scale unprecedented at least since the fall of the Soviet Union. Unlike the East bloc, however, the new state capitalists - China, Russia and the Persian Gulf states, primarily - have proven so successful that even before the crisis they caused world leaders to wonder if democratic capitalism might not be the best economic model after...
...million. It will have a seaport, an industrial district, a financial center, a health-care zone, a full-fledged university and a beach resort. Not since Brasília and Chandigarh in the 1950s and '60s has any country set out to build an entirely new city on such a scale...
...young people who will come of age in the next five years. This "youth bulge" will create a demand for 6 million residential units in the next 12 years; that's a million more units than were built in the past 60 years. "When you have demand on that scale, you can't think small," says Fawaz al-Alamy, who advises King Abdullah on economic issues. "Big problems need big solutions...
Global competitiveness has been a buzzword in Washington, on college campuses, in union halls, in corporate boardrooms and in the media for decades. What is different in this new era is the scale and speed of the coming challenge, which will see hundreds of companies from developing countries charging at us relentlessly, from all sides, like a modern version of king of the hill. Are we ready...