The Role of State-Owned Enterprises in the Economic Transnational Relations

The State-Owned Enterprises (SOEs) are a traditional instrument of state intervention in the economy, but in the 21st century they have assumed a significant dimension in international economic relations. In countries adopting the free-market economy model, SOEs are mainly used in strategic sectors or for the state rescue of large companies in crisis. In socialist market economies, particularly in Russia and China, instead, SOEs are, on the other hand, the fundamental pillar of the economic system and, also thanks to public support, some of them compete on international markets with the major global players. Since the WTO system prohibits only some forms of public subsidies, the essay seeks to find new forms of regulation of SOEs’ international economic activity that may guarantee a balance between the peculiarities of the different economic systems, the need for a level playing field and the protection of national security interests.