Author: Scott Kennedy
Abstract: China’s phenomenal economic success has given rise to a debate about the reasons for its achievements. Some believe that the broad liberalization of the last 30 years deserves the credit, which would be consistent with conventional explanations for economic development. Others suggest that just as significant as liberalization has been the measured pace and distinctive sequencing of reforms developed and carried out by a state with strong governing capabilities. As such, they believe China’s success challenges conventional theories about the most appropriate development strategies and the role of the state. One observer, John Cooper Ramo (2004), has labeled what he sees as China’s unique approach as the “Beijing Consensus” (BC, beijing gongshi), thereby distinguishing it from the “Washington Consensus” (WC, huashengdungongshi), which connotes a more conventional development approach.
