1. Introduction

The legal definition of state-owned enterprises (SOEs) has become a central issue in the broader geoeconomic rivalry between China and market-oriented economies such as the United States, the European Union, and Japan. China’s growing global influence, tied to national security concerns, economic impacts, and regulatory debates, has directly shaped the evolution of SOE regulation. This book examines how these three economies have not merely reacted to China’s model but have actively built a new normative framework, the ownership and control framework, to redefine SOEs in trade and investment agreements. Initially diverse in their approaches, the United States, the EU, and Japan have progressively converged toward harmonized rules, which are now being exported through their agreements with both developed and developing countries. This regulatory convergence, while establishing a dominant international standard, raises challenges for the Global South. Countries such as Brazil, although not direct parties in the disputes driving these rules, are nonetheless affected by a framework designed primarily to address China’s rise. This book suggests that applying a uniform model risks overlooking the varied realities and development goals of emerging economies, calling for further research on how this framework may constrain legitimate development policies.