Rising Power and the Balance of International Order

The Beijing Consensus’s Presuppositional Transcendence, Institutional Advantages and Systemic Optimisation of the Washington Consensus

DOI

10.2991/978-94-6463-702-1_88How to use a DOI?

Keywords

Beijing Consensus; Geopolitics; International System; Structural-Hierarchical Analysis; Rational Actors

Abstract

The ‘Washington Consensus’, as the signature concept of neoliberalism in the wave of globalisation, has been widely discussed and practised around the world since it was put forward in the late 1980s and early 1990s. Its core ideas include the advocacy of market liberalisation, trade liberalisation, privatisation and a drastic reduction in direct state intervention in the economy, with the aim of stimulating market dynamism and economic growth through a series of radical economic reforms, and ultimately achieving national prosperity and development. However, after decades of empirical testing, the general applicability of this theoretical framework and its practical effects have been increasingly questioned and challenged. The Washington Consensus fails to take into account the specific national circumstances, historical and cultural backgrounds of different countries. Concurrently, it places undue emphasis on economic liberalisation, whilst failing to acknowledge the beneficial role of government in economic development. In this context, the Beijing Consensus, representing the latest overview of China’s development experience, offers a novel discourse narrative and development model for individual countries. Consequently, this paper will concentrate on agenda review and comparative analyses, with a view to demonstrating the Beijing Consensus’ capacity to transcend the traditional capitalist model of national development and its impact on the existing international political power structure.

Copyright

© 2025 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Wen Feng
PY  - 2025
DA  - 2025/05/05
TI  - Rising Power and the Balance of International Order
BT  - Proceedings of the 2025 10th International Conference on Financial Innovation and Economic Development (ICFIED 2025)
PB  - Atlantis Press
SP  - 850
EP  - 856
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-702-1_88
DO  - 10.2991/978-94-6463-702-1_88
ID  - Feng2025
ER  -