Inter-State Competition and Transnational Capitalists across the North-South Divide: Different Strategies, New Configurations of Power.

Existing research emphasizes the rise of new coalitions of states from the global South, such as the BRICS, on one hand, and the rise of a transnational capitalist class on the other. Yet only a small body of work has considered how transnational capitalists shape, and are shaped by, inter-state competition. Research neglects explicitly comparative inquiries: do transnational capitalists in the global North and the global South interact with inter-state competition differently? This article analyzes two cases in which transnational firms in the global North and South attempted to shape state institutions at domestic and international levels to strengthen trade liberalization. We argue that, while firms in the global North and South increasingly share preferences for trade liberalization, the way in which these firms pursue that goal is shaped by their historical relationship to the institutions of U.S.-led hegemony. Transnational firms in the global South seek to foment inter-state competition in order to decenter U.S. leadership, while their counterparts in the North seek to minimize and accommodate inter-state competition to preserve U.S. leadership and their own private authority. Both the North and the South are contributing to the geographical re-centering of institutional power in the world economy. [ABSTRACT FROM AUTHOR]