A Theory of China's 'Miracle': Eight Principles of Contemporary Chinese Political Economy

Authors

  • Cheng Enfu
  • Ding Xiaoqin

DOI:

https://doi.org/10.14452/MR-068-08-2017-01_5

Keywords:

Socialism, Economic Theory, Marxism, Political Economy

Abstract

China's rapid economic development in recent years is often characterized as "miraculous." Talk of a "Beijing Consensus" or "China model" has become commonplace in academic debates. But as we have written elsewhere, "theoretical problems have started to emerge with regards to the very existence, content, and prospects of the China model." The key question, then, is what kind of economic theory and strategy underpin this "miracle."… [W]e hold that the country's major recent developmental gains are the achievements of theoretical advances in political economy, originating in China itself, while the main problems that have accompanied China's development reflect the damaging influence of Western neoliberalism.… We hope to clarify the official theoretical model behind China's economic "miracle," using the terms and concepts prevalent in China today.

Published

2017-01-05

Issue

Section

Articles

Most read articles by the same author(s)