China's Distinctive System: can it be a model for others?

Abstract

The idea of the 'Beijing Consensus' does not accurately describe what has happened in China, nor does it represent a consensus among Chinese economists and policy-makers. This article presents six distinctive features of China's economic development, and argues that while each provides important lessons, none are easily copied by other developing countries. The intertwining of state and market in China is at the root of China's most distinctive developmental features. However, the specific character of the Chinese system and the way in which government and business relations have been structured cannot be readily replicated in other countries.