Abstract
We argue, due to the conspicuous failure of Washington Consensus-guided
reforms in most part of the developing world in 1990s and the outbreak of the
current global financial crisis, Washington Consensus, as a general term of the
neoliberal free market economic thinking, has been withering. In the meantime,
Chinese economic model has gain wide recognition and praise worldwide.
Joshua C. Ramo coined the term of Beijing Consensus as an alternative
approach to economic development for developing nations. There has been hot
debate on the notion of Beijing Consensus. We argue even though there are
some problems in Ramo’s original definition of Beijing Consensus, we should
not reject this notion altogether. Instead, we should try to come up with better
conceptualizations of this term. In this paper, we sum up ten general principles
of the Chinese development model as our new definition of the Beijing
Consensus.
reforms in most part of the developing world in 1990s and the outbreak of the
current global financial crisis, Washington Consensus, as a general term of the
neoliberal free market economic thinking, has been withering. In the meantime,
Chinese economic model has gain wide recognition and praise worldwide.
Joshua C. Ramo coined the term of Beijing Consensus as an alternative
approach to economic development for developing nations. There has been hot
debate on the notion of Beijing Consensus. We argue even though there are
some problems in Ramo’s original definition of Beijing Consensus, we should
not reject this notion altogether. Instead, we should try to come up with better
conceptualizations of this term. In this paper, we sum up ten general principles
of the Chinese development model as our new definition of the Beijing
Consensus.
| Original language | English |
|---|---|
| Place of Publication | Frederiksberg |
| Publisher | Asia Research Centre. Copenhagen Business School |
| Number of pages | 32 |
| Publication status | Published - Jul 2009 |
| Series | Copenhagen Discussion Papers |
|---|---|
| Number | 29 |
| ISSN | 0904-8626 |
Keywords
- Washington consensus
- Beijing consensus
- China
- Development model
- Economic reform
