Ian Bremmer discusses the changing rules of competition in China, where the state is the principal actor and arbiter in the economy. As China gains dominance on the world stage, more and more multinational corporations will need to rethink their assumptions about competing under its state-capitalism model—one in which the government is the principal economic driver. So says Ian Bremmer, president of the political-risk consulting firm Eurasia Group and author of the upcoming book The End of the Free Market: Who Wins the War Between States and Corporations? In this video interview, Bremmer discusses the fundamental distinctions between state capitalism and free-market economies, as well as the strategic implications this has for Western companies and governments alike. McKinsey Publishing’s Rik Kirkland conducted the interview in New York.