The Visible Hand: The Growing Impetus of State-Directed Capitalism

The Visible Hand: The Growing Impetus of State-Directed Capitalism

1 June, 15:00–16:15

Deceleration of global growth is calling into question the current market economy system where the benefits of free trade and technological progress are redistributed among a limited number of participants and social fairness is ensured through growth of national wealth. Boardrooms must now react to a more assertive government direction in corporate decision-making, including trade, investment, and technology strategies. Are we witnessing the start of a transformation of the capitalist model? How are these new interventionist policies impacting global trade and investment and what should business do to successfully navigate these trends?














Broadcast

Key moments

The human being is a value higher than capital.
Silvana Vallejo Paez
General Director, ProEcuador
The world has demonstrated that ‘non-capitalism’ does not survive for long as an economic system: society must have motivation, it must have private enterprise.
Oleg Vyugin
Member of the Board of Directors, Independent Director, Rosneft; Professor, National Research University Higher School of Economics
Government should intervene and should play its role not only in ensuring the interests of the private sector, because there are things that cannot be resolved without the state: protection of the environment, climate change.
Rodrigo Malmierca Diaz
Minister of Foreign Trade and Foreign Investment of the Republic of Cuba
Government should create joint stock companies so that all shareholders should consider themselves as players in the economy.
Rodrigo Malmierca Diaz
Minister of Foreign Trade and Foreign Investment of the Republic of Cuba
If the market conditions are such they have to pay over the top to get the best people for those jobs, then I think it should be done, as that will automatically create more value for the shareholders, the whole of society and the economy will benefit.
Alexander Branis
Chief Investment Advisor, Prosperity Capital Management; Chairman of the Board of Directors, Association of Institutional Investors
It’s much easier to manage the situation and to avoid a high level of inequality if there is atomized capital distribution between the entities.
Oleg Vyugin
Member of the Board of Directors, Independent Director, Rosneft; Professor, National Research University Higher School of Economics
The future does not belong to state capitalism but, to some extent, to the strengthening of regulation, which could be successful or unsuccessful, which is an open question.
Oleg Vyugin
Member of the Board of Directors, Independent Director, Rosneft; Professor, National Research University Higher School of Economics
We shouldn’t argue that the state, the government should play a very important role in the economy. It should be a regulator and maybe sometimes it should be even be more active. In Cuba, we have our own experience and we do not want to create state capitalism. We are aiming for socialism where the state should play an important role and the government should be present everywhere.
Rodrigo Malmierca Diaz
Minister of Foreign Trade and Foreign Investment of the Republic of Cuba
We live in an open mobile space and we should find a balance and an opportunity for the state to take part in regulating, to provide reasonable support for particular sectors that are especially promising or relevant for the country’s economy.
Dmitry Kurdyukov
First Deputy Chairman, Member of the Board, State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank)
The state should determine for itself its priorities in economies that are important at the moment and try to support them.
Dmitry Kurdyukov
First Deputy Chairman, Member of the Board, State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank)