Abstract:
The Washington consensus is the manifestation of neoliberal ideas on economics around the 1990s. Its Chinese counterpart, the Beijing consensus, is primarily based on perceptions of the Chinese system and revolves around concepts such as self-determination, authoritarianism, pragmatism and flexibility. The Washington consensus has generally been unable to generate growth in developing countries and is therefore perceived as a failure and a mere manifestation of western arrogance. The Beijing consensus continues to perform better, yet especially the aspect of non-interference receives withering critique from the West because it dismisses human rights. Also the fact that the Chinese model is rather informal raises questions regarding its validity since it slowly moves toward a more market oriented economy, which contradicts with authoritarianism. The Beijing consensus can therefore best be approached as a symbol for the end of unipolarity, and an alternative to supposed western superiority.
