Thursday, February 4, 2010

Archived; click post to view.
Excerpt: Just to be clear, there’s never been an acknowledged nor formal definition of the Beijing Consensus, which is an alternative economic development model to those proposed by the Washington consensus. This article in Foreign Affairs argues time might be running out on this social contract based on a trade-off of political and economic freedoms, when and if the country’s economic growth slows down. China’s astronomic growth has left it in a precarious situation, however. Other developing countries have suffered from the so-called middle-income trap — a situation that often arises when a country’s per-capita GDP reaches the range of $3,000 to $8,000,…