IRLS 504 American Public University The State and Economic Development Paper

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Humanities

IRLS 504

American Public University System

IRLS

Description

With the end of the Cold War, many Western observers assumed that liberal democratic capitalism was the only effective remaining path to modernization for the developing world. Nonetheless, China's unprecedented rise in the global economic hierarchy has raised the possibility of an alternative "illiberal" state-led capitalism.

What is the Chinese model? And is the developmental state a viable alternative growth model for the countries of the South? Is it a serious challenger to market-based capitalism?

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Running head: THE STATE AND ECONOMIC DEVELOPMENT

The State and Economic Development
Student’s Name
Course Code and Number
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THE STATE AND ECONOMIC DEVELOPMENT

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The State and Economic Development
According to Hayashi (2010), the Chinese model often referred to as the Beijing
consensus represents a mix of economic and political policies that have not only enabled the
nation to realize its “economic miracle” but have also forged a path for the nation to evolve into
a soft-authoritarian state that intriguingly sharply contrasts to the West’s liberal democracy.
When defined, the model is a s...


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