Globalized State Capitalism: Defining the Era of Sovereign Wealth Funds

Key Points The International Monetary Fund estimates that state-owned enterprises now account for 20 per cent of the world's 2000 largest enterprises, twice as many as 20 years ago. In 24 years, sovereign wealth fund-controlled assets have increased from less than $1 trillion to more than $12,400 billion last year. According to the United Nations Conference on Trade and Development, the rate of adoption of industrial policies and national develo…