Uneven and combined development and sub-imperialism: the internationalization of Brazilian capital

This paper examines the political-economic outgrowth of Brazilian capitalism in the global south after the outset of the global financial crisis. In analysing the public-sector finance policy of the Workers’ Party (PT) during the crisis, I argue that a structuration of investment was established. Utilizing theoretical premises of uneven and combined development and sub-imperialism, this paper traces the motions of the industrial financing processes that perpetuate Brazilian capitalism outside of the boundaries of the nation-state to shed light on the relationship between ‘emergent’ economies, their state structures, and the developing world. I argue that such structures represent a policy to accelerate capital accumulation abroad.