Is the Beijing Model of Development Sustainable for Developing States?

Abstract

The Chinese economic and political model of development, or the “Beijing Consensus”, is seen as the main reason for the country's immense economic success since the end of 20th century. In contrast to the "Washington Consensus", its unconventional approach to economic policy came to be known as the key plan in China’s path to economic and political development. Now perceived as set of policies challenging the established ideas of contemporary development, many Chinese and international scholars propose the model as a development strategy for developing states. This paper explores the essence of what makes the Chinese model relevant in contemporary global economics, as well as questions the sustainability of the model in developing regions of the world, such as Africa, Latin America and Central Asia.