Abstract
ABSTRACTThe political-economic evolution of post-Mao China has been portrayed as a historically inevitable embrace of neoliberalism; as an exemplification of the East Asian developmental state and as an extension of Soviet New Economic Policy-style state capitalism. This paper evaluates these portrayals through a broad historical and geographical framework. It examines the position of China as a new state after 1949. It then places the shifting logics of socioeconomic regulation in China in relation to (1) the global neoliberal hegemony since the 1980s and (2) the concomitant shifts in the economic policies of Japan, South Korea and Taiwan. In so doing, the paper demonstrates how the Communist Party of China creatively adapted and re-purposed regulatory logics from the Washington Consensus and East Asian policies to consolidate its own version of Leninist state-led development.
Highlights
China is the world’s second largest economy today
Income distribution in China today is much more unequal than in 1990s South Korea.1. This naturally begs the question of how proximate Korean and Chinese economic policies have been; more importantly, it begs the question whether South Korea's path might indicate the much bigger Chinese economy could avoid a social backlash in the face of growing inequality, and one day perhaps catch up perhaps with American living standards
Enthusiasts of the “China Model” are aware of the developmental hiatus during the Mao era, to be sure, and most of them flatly reject Mao’s economic legacy. They point out that the Chinese trajectory has one compelling feature that is superior to the other East Asian developmental states; one that might usher China into the technological frontier, help it become globally more competitive and attain high income in due course: namely, greater receptivity to foreign direct investment (FDI)
Summary
Citation for published item: Horesh, N. and Lim, K.F. (2017) 'China : an East Asian alternative to neoliberalism?', The Pacic review., 30 (4). pp. 425-442. (2017) 'China : an East Asian alternative to neoliberalism?', The Pacic review., 30 (4). The full-text may be used and/or reproduced, and given to third parties in any format or medium, without prior permission or charge, for personal research or study, educational, or not-for-prot purposes provided that:. A full bibliographic reference is made to the original source a link is made to the metadata record in DRO the full-text is not changed in any way The full-text must not be sold in any format or medium without the formal permission of the copyright holders. Durham University Library, Stockton Road, Durham DH1 3LY, United Kingdom Tel : +44 (0)191 334 3042 | Fax : +44 (0)191 334 2971 https://dro.dur.ac.uk
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