- published: 07 Jul 2016
- views: 30969
The Beijing Consensus (also sometimes called the "China Model" or "Chinese Economic Model") is a term that refers to the political and especially economic policies of the People's Republic of China that began after the death of Mao Zedong and the rehabilitation of Deng Xiaoping (1976) and are thought to have contributed to China's eightfold growth in gross national product over two decades. The phrase "Beijing Consensus" was coined by Joshua Cooper Ramo to pose China's economic development model as an alternative — especially for developing countries — to the Washington Consensus of market-friendly policies promoted by the IMF, World Bank and U.S. Treasury.
The term has been described variously as the pragmatic use of innovation and experimentation in the service of "equitable, peaceful high-quality growth", and "defense of national borders and interests" (by Ramo); the use of "stable, if repressive, politics and high-speed economic growth". Others maintain that "it seems" there is "no consensus as to what it stands for" other than being an alternative to the neoliberal Washington Consensus; and that the term "is applied to anything that happens in Beijing, regardless of whether or not it has to do with a 'Chinese Model of Development,' or even with the People's Republic of China (PRC) per se."
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