Globalisation is entering a new phase, with emerging-market companies now competing furiously against rich-country ones. What will that mean for capitalism?

Also in this special report:

The new champions - Emerging markets are producing examples of capitalism at its best.

Ins and outs - Acronyms BRIC out all over.

The empire strikes back - Why richworld multi-nationals think they can stay ahead of the newcomers.

Oil, politics and corruption - Bad capitalism carries its own risks.

The rise of state capitalism - Coming to grips with sovereign-wealth funds.

Cities in the sand - A new sort of investment partnership.

Opportunity knocks - As long as the protectionists don't spoil it.