Advertisement

Regional Economic Governance and the Internationalization of Capital

  • Faris Al-Fadhat
Chapter
Part of the Critical Studies of the Asia-Pacific book series (CSAP)

Abstract

This chapter provides a theoretical framework for analyzing the social forces and political coalitions shaping the trajectories of regional economic integration projects, and how this is caused by the capitalist transformation. The key to the theoretical argument here is to explain the form and structure of regional economic integration as the consequence of the internationalization of capital. The framework developed in this chapter emphasizes that the internationalization process of capital accumulation does not mean that the state becomes less important in the regional economic project development. Rather, the state plays a substantial political and economic role in mediating the process of internationalization. It is worth emphasizing that the scale of capital expansion is located at the international level, but the process of accumulation is always bound to a specific space and governed within the territorial boundaries of the ‘national state’.

Bibliography

  1. Arendt, Hannah. 1968. Imperialism. New York: Harcourt Brace Janovich.Google Scholar
  2. Bieler, Andreas, and Adam David Morton. 2014. “The Will-O’-the-Wisp of the Transnational State.” Journal of Australian Political Economy No. 72:23–51.Google Scholar
  3. Brown, Rajeswary Ampalavanar. 2006. The Rise of the Corporate Economy in Southeast Asia. London: Routledge.Google Scholar
  4. Bryan, Dick. 1995. The Chase Across the Globe: International Accumulation and the Contradictions for Nation States. Boulder, CO: Westview Press.Google Scholar
  5. Bryan, Richard. 1987. “The state and the Internationalisation of Capital: An Approach to Analysis.” Journal of Contemporary Asia No. 17 (3):253–275.CrossRefGoogle Scholar
  6. Chacko, Priya, and Kanishka Jayasuriya. 2017. “A Capitalising Foreign Policy: Regulatory Geographies and Transnationalised State Projects.” European Journal of International Relations (March):1–24.Google Scholar
  7. Chang, Sea-Jin, ed. 2006. Business Groups in East Asia: Financial Crisis, Restructuring, and New Growth. Oxford: Oxford University Press.Google Scholar
  8. Clark, Gordon L., and Michael J. Dear. 1984. State Apparatus: Structures and Language of Legitimacy. Boston, MA: Allen & Unwin.Google Scholar
  9. Cox, Robert W. 1981. “Social Forces, States and World Orders: Beyond International Relations Theory.” Millennium: Journal of International Studies No. 10 (2):126–155.CrossRefGoogle Scholar
  10. Cox, Robert W. 1987. Production, Power, and World Order: Social Forces in the Making of History. New York: Columbia University Press.Google Scholar
  11. Domhoff, G. William. 2009. Who Rules America? Challenges to Corporate and Class Dominance. 6th ed. New York: McGraw-Hill.Google Scholar
  12. Fernández Jilberto, Alex E., and Barbara Hogenboom. 2007. “Latin American Conglomerates in the Neoliberal Rea.” In Big Business and Economic Development: Conglomerates and Economic Groups in Developing Countries and Transition Economies under Globalisation, edited by Alex E. Fernández Jilberto and Barbara Hogenboom, 135–166. London: Routledge.Google Scholar
  13. GCC Secretariat General. 2001. The Economic Agreement between the Gulf Cooperation Council States. Riyadh, Saudi Arabia: GCC Secretariat General.Google Scholar
  14. Glassman, Jim. 1999. “State Power beyond the ‘Territorial Trap’: The Internationalization of the State.” Political Geography No. 18 (6):669–696.CrossRefGoogle Scholar
  15. Gowan, Peter. 2004. “Triumphing Toward International Disaster: The Impasse in American Grand Strategy.” Critical Asian Studies No. 36 (1):3–36.CrossRefGoogle Scholar
  16. Hanieh, Adam. 2010. “Khaleeji-Capital: Class-Formation and Regional Integration in the Middle-East Gulf.” Historical Materialism No. 18 (2):35–76.CrossRefGoogle Scholar
  17. Hanieh, Adam. 2011. Capitalism and Class in the Gulf Arab States. New York: Palgrave Macmillan.CrossRefGoogle Scholar
  18. Hanieh, Adam. 2016. “Absent Regions: Spaces of Financialisation in the Arab World.” Antipode No. 48 (5):1228–1248.CrossRefGoogle Scholar
  19. Harvey, David. 1982. The Limits to Capital. Chicago: The University of Chicago Press.Google Scholar
  20. Harvey, David. 2001. Spaces of Capital: Towards a Critical Geography. New York: Routledge.Google Scholar
  21. Harvey, David. 2003. The New Imperialism. Oxford: Oxford University Press.Google Scholar
  22. Herod, Andrew. 1995. “The Practice of International Labor Solidarity and the Geography of the Global Economy.” Economic Geography No. 71 (4):341–363.CrossRefGoogle Scholar
  23. Herod, Andrew. 1997. “From a Geography of Labor to a Labor Geography: Labor’s Spatial Fix and the Geography of Capitalism.” Antipode No. 29 (1):1–31.CrossRefGoogle Scholar
  24. Jessop, Bob. 1990a. “Regulation Theories in Retrospect and Prospect.” Economy and Society No. 19 (2):153–216.CrossRefGoogle Scholar
  25. Jessop, Bob. 1990b. State Theory: Putting the Capitalist State in Its Place. Cambridge, UK: Polity Press.Google Scholar
  26. Jessop, Bob and N Ngai-Ling Sum. 2006. Beyond the Regulation Approach: Putting Capitalist Economies in their Place. Cheltenham: Edward Elgar.CrossRefGoogle Scholar
  27. LaFeber, Walter. 1998 [1963]. The New Empire: An Interpretation of American Expansion, 1860–1898—Thirty-Fifth Anniversary Edition. Ithaca, NY: Cornell University Press.Google Scholar
  28. Marx, Karl. 1973 [1857]. Grundrisse. Harmondsworth, UK: Penguin Books.Google Scholar
  29. Marx, Karl. 1976 [1867]. Capital: A Critique of Political Economy. Harmondsworth, UK: Penguin Books & New Left Review.Google Scholar
  30. Marx, Karl, and Friedrich Engels. 1965 [1848]. “Manifesto of the Communist Party.” In Selected Works, edited by Karl Marx and Friedrich Engels, 35–63. New York: International Publishers.Google Scholar
  31. Massey, Doreen. 1995. Spatial Divisions of Labor: Social Structures and the Geography of Production. 2nd ed. New York: Routledge.CrossRefGoogle Scholar
  32. Murray, Robin. 1971. “Internationalization of Capital and the Nation State.” New Left Review No. I (67):84–109.Google Scholar
  33. Nesadurai, Helen E. S. 2003. Globalisation, Domestic Politics and Regionalism: The ASEAN Free Trade Area. London: Routledge.CrossRefGoogle Scholar
  34. Oguz, Sebnem. 2015. “Rethinking Globalization as Internationalization of Capital: Implications for Understanding State Restructuring.” Science & Society No. 79 (3):336–362.CrossRefGoogle Scholar
  35. Overbeek, Henk. 2004. “Transnational Class Formation and Concepts of Control: Towards a Genealogy of the Amsterdam Project in International Political Economy.” Journal of International Relations and Development No. 7 (2):113–141.CrossRefGoogle Scholar
  36. Overbeek, Henk, and Kees van der Pijl. 1993. “Restructuring Capital and Restructuring Hegemony: Neo-Liberalism and the Unmaking of the Post-War Order.” In Restructuring Hegemony in the Global Political Economy: The Rise of Transnational Neo-liberalism in the 1980s, edited by Henk Overbeek, 1–27. Routledge: London.CrossRefGoogle Scholar
  37. Palloix, Christian. 1977a. “Conceptualizing the Internationalization of Capital.” Review of Radical Political Economics No. 9 (2):17–28.CrossRefGoogle Scholar
  38. Palloix, Christian. 1977b. “The Self-Expansion of Capital on a World Scale.” Review of Radical Political Economics No. 9 (2):3–17.CrossRefGoogle Scholar
  39. Panitch, Leo, and Sam Gindin. 2004. “Global Capitalism and American Empire.” In Socialist Register 2004: The New Imperial Challenge, edited by Colin Leys and Leo Panitch. London: Merlin Press.Google Scholar
  40. Poulantzas, Nicos. 1974. “Internationalisation of Capitalist Relations and the Nation-State.” Economy and Society No. 3 (2):145–179.CrossRefGoogle Scholar
  41. Poulantzas, Nicos. 1978. Classes in Contemporary Capitalism. London: Verso.Google Scholar
  42. Pradella, Lucia. 2013. “Imperialism and Capitalist Development in Marx’s.” Historical Materialism No. 21 (2):117–147.CrossRefGoogle Scholar
  43. Robinson, William. 2004. A Theory of Global Capitalism: Production, Class and State in a Transnational World. Baltimore, MD: Johns Hopkins University Press.Google Scholar
  44. Robinson, William. 2007. “The Pitfalls of Realist Analysis of Global Capitalism: A Critique of Ellen Meiksins Wood’s Empire of Capital.” Historical Materialism No. 15 (3):71–93.CrossRefGoogle Scholar
  45. Robison, Richard. 1995. “Emergence of the Middle Class in Southeast Asia.” No. 57. Perth: Asia Research Centre, Murdoch University.Google Scholar
  46. Robison, Richard, ed. 2012. Routledge Handbook of Southeast Asian Politics Abingdon and New York: Routledge.Google Scholar
  47. Sandbeck, Sune, and Etienne Schneider. 2014. “From the Sovereign Debt Crisis to Authoritarian Statism: Contradictions of the European State Project.” New Political Economy No. 19 (6):847–871.CrossRefGoogle Scholar
  48. Schneider, Ben Ross. 2004. Business Politics and the State in Twentieth-Century Latin America. Cambridge, UK: Cambridge University Press.CrossRefGoogle Scholar
  49. Shoup, Laurence H., and William Minter. 1977. Imperial Brain Trust: The Council on Foreign Relations and United States Foreign Policy. New York: Monthly Review Press.Google Scholar
  50. Sklair, Leslie. 1995. Sociology of the Global System. Baltimore, MD: Johns Hopkins University Press.Google Scholar
  51. Sklair, Leslie. 2001. The Transnational Capitalist Class. Oxford: Blackwell.Google Scholar
  52. Sklar, Holly, ed. 1980. Trilateralism: The Trilateral Commission and Elite Planning for World Management. Boston, MA: South End Press.Google Scholar
  53. Storper, Michael, and Richard Walker. 1989. The Capitalist Imperative: Territory, Technology, and Industrial Growth. Oxford: Blackwell.Google Scholar
  54. Teubal, Miguel. 2007. “Economic Groups and the Rise and Collapse of Neoliberalism in Argentina.” In Big Business and Economic Development: Conglomerates and Economic Groups in Developing Countries and Transition Economies under Globalisation, edited by Alex E. Fernández Jilberto and Barbara Hogenboom, 167–190. London: Routledge.Google Scholar
  55. Van Apeldoorn, Bastiaan. 2002. Transnational Capitalism and the Struggle Over European Integration. London: Routledge.Google Scholar
  56. Van Apeldoorn, Bastian. 2004a. “Theorizing the Transnational: A Historical Materialist Approach.” Journal of International Relations and Development, 7 (2):142–176.CrossRefGoogle Scholar
  57. Van Apeldoorn, Bastian. 2004b. “Transnational Historical Materialism: The Amsterdam International Political Economy Project.” Journal of International Relations and Development, 7 (2):110–112.CrossRefGoogle Scholar
  58. Van Apeldoorn, Bastiaan, and Naná De Graaff. 2012. “The Limits of Open Door Imperialism and the US State–Capital Nexus.” Globalizations No. 9 (4):593–608.CrossRefGoogle Scholar
  59. Webber, Michael J., and David L. Rigby. 1996. The Golden Age Illusion: Rethinking Postwar Capitalism. New York and London: The Guilford Press.Google Scholar
  60. Wissel, Jens. 2006. “The Transnationalization of the Bourgeoisie and the New Networks of Power.” In Reading Poulantzas, edited by Alexander Gallas, Lars Bretthauer, John Kannankulam and Ingo Stützle, 216–230. Pontypool: Merlin Press.Google Scholar

Copyright information

© The Author(s) 2019

Authors and Affiliations

  • Faris Al-Fadhat
    • 1
  1. 1.Department of International RelationsUniversitas Muhammadiyah YogyakartaBantulIndonesia

Personalised recommendations