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Redefining Beijing Consensus - Ten general principles

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We argue, due to the conspicuous failure of Washington Consensus-guidedreforms in most part of the developing world in 1990s and the outbreak of thecurrent global financial crisis, Washington Consensus, as a general term of theneoliberal 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 alternativeapproach to economic development for developing nations. There has been hotdebate on the notion of Beijing Consensus. We argue even though there aresome problems in Ramo’s original definition of Beijing Consensus, we shouldnot reject this notion altogether. Instead, we should try to come up with betterconceptualizations of this term. In this paper, we sum up ten general principlesof the Chinese development model as our new definition of the BeijingConsensus.

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Xin Li, Kjeld Erik Brødsgaard, Michael Jacobsen

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