Chinese Model of Socio-Economic Development and its Potential Adaptation in Europe Cover Image

Chiński Model Rozwoju Społeczno-Gospodarczego I Jego Potencjalna Adaptacja W Europie
Chinese Model of Socio-Economic Development and its Potential Adaptation in Europe

Author(s): Maciej Walkowski
Subject(s): Supranational / Global Economy, Government/Political systems, International relations/trade, Economic development, Financial Markets, Socio-Economic Research
Published by: Uniwersytet Adama Mickiewicza
Keywords: China; market economy; development model; Confucian capitalism; Asian values; economic growth;

Summary/Abstract: For the last three decades the economic success enjoyed by the People’s Republic of China has been closely followed around the world. Lately it has fuelled the debate about not only particular characteristics, but also potential universality of the so-called Chinese development model, often described as the Beijing Consensus or an authoritarian model of state capitalism. This model has lately become attractive for many governments, especially of the less developed states. It is especially visible in Africa, Latin America and Central Asia where Chinese companies and politicians are very active. Since 2008, in many regions of the world, global financial and economic crisis has eroded trust in the Anglo-Saxon model of free market economy and the accompanying neoliberal ideology. The speed with which China moved from a status of a poor agricultural country to one of a global economic power has elicited admiration in many societies. In the European Union there is also a debate about an appropriate shape of trade-investment relations with China and evaluation of the Chinese development formula. The socioeconomic costs and benefits of the Chinese development formula, as well as its adaptability are being discussed. This debate has visibly intensified in the context of implementation and popularization of the Chinese concept concerning connecting Asia with Europe through the One Belt One Road project. In this article the author aims to describe the characteristics of the Chinese development model, present its strengths and weaknesses in different states of development and answer the question of how useful it could be for the European Union, both on the level of bilateral agreements and of a strategic partnership between China and the EU as a whole

  • Issue Year: VII/2017
  • Issue No: 10
  • Page Range: 335-365
  • Page Count: 31
  • Language: Polish