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Curtis J. Milhaupt

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Traders work on the floor of the New York Stock Exchange (NYSE).

The Political Economy of Global Stock Exchange Competition

Blogs September 22, 2025

The Political Economy of Global Stock Exchange Competition

Blogs September 22, 2025

Global stock exchanges today operate in a transformed environment. They remain commercial enterprises competing for listings, but they are also strategic assets deeply embedded in state policy and geopolitical rivalry.

U.S. President Donald Trump (L) listens as Nvidia CEO Jensen Huang speaks in the Cross Hall of the White House during an event on "Investing in America" on April 30, 2025 in Washington, DC.

Lawless State Capitalism Is No Answer to China’s Rise

Commentary September 18, 2025

Lawless State Capitalism Is No Answer to China’s Rise

Commentary September 18, 2025

Invoking national security and the economic rivalry with China, the Trump administration is pursuing legally dubious interventions and control of private industry, with potentially high costs for US dynamism. Like the panic over Japan's rise in the 1980s, the administration's response is unwarranted and counterproductive.

Illustration of Tiktok icon on a mobile device screen on a blurred background of China's flag.

TikTok’s Identity Crisis: Corporate Personality in a De-Globalizing World

Commentary January 9, 2025

TikTok’s Identity Crisis: Corporate Personality in a De-Globalizing World

Commentary January 9, 2025

The TikTok ban case exposes a new reality: Contrary to widespread predictions that globalization would lead to the statelessness of large corporations, weaponized interdependence has heightened the salience of questions about corporate identity and control, as well as informal channels of state influence over commercial enterprises. TikTok’s identity crisis reveals the limitations of standard corporate law doctrines in satisfying policymakers focused on national security and geopolitical rivalry.

APARC News

Shorenstein APARC Newsroom

The Political Economy of Global Stock Exchange Competition

The Political Economy of Global Stock Exchange Competition

Lawless State Capitalism Is No Answer to China’s Rise

Lawless State Capitalism Is No Answer to China’s Rise

TikTok’s Identity Crisis: Corporate Personality in a De-Globalizing World

TikTok’s Identity Crisis: Corporate Personality in a De-Globalizing World

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