The Great Chinese Transformation: From the Third World to the First Cover Image

Wielka chińska transformacja: ze świata trzeciego do pierwszego
The Great Chinese Transformation: From the Third World to the First

Author(s): Grzegorz W. Kołodko
Subject(s): National Economy, Supranational / Global Economy
Published by: Szkoła Główna Handlowa w Warszawie
Keywords: globalization; economic system; transformation; world order; new pragmatism

Summary/Abstract: This paper aims to answer the question how the rules of the economic and political game are changing in an era of irreversible globalisation and to what extent they musttake into account the growing importance of China. The main method of analysis is comparative economics and a look at the complex development process through the lens ofpolitical economy and the new pragmatism approach. The study leads to the conclusionthat China should not be opposed or fought against, but must be cooperated with in solving global problems. On the one hand, China should adapt to the external world; on theother, the world must take into account the specific features of the Chinese system, so-calledChinism. It is not possible to impose a model formed elsewhere on China, especially asliberal democracy is experiencing a crisis in many countries. Likewise, the Chinese modelcannot be imposed on other economies, even though it may seem tempting to them. Thefurther development of the world economy requires re-institutionalisation of globalisationand making it more inclusive. The only sensible path to the future is in-depth observationof alternative systems and mutual learning as well as reasonable cooperation based onunorthodox economic thought.

  • Issue Year: 304/2020
  • Issue No: 4
  • Page Range: 53-80
  • Page Count: 28
  • Language: Polish