The China Model in the Global Economy

Abstract

The purpose of this chapter is to stand against the claim that the same neo-liberal model emerges in all countries as a result of the competitive pressures arising from globalization. Countries can experience a globalization pattern that improves their growth performance and living standards with different policy preferences in the fields of finance, trade, and investment. The variety of Chinese capitalism is a case of this situation. In the first section, this Chinese development model with its illiberal policies first is examined. In the second section, the new development initiatives and institutional arrangements and their potential effects are discussed. In addition, the implications of these new development initiatives are argued in terms of global governance systems.