European Journal of Economics and Economic Policies: Intervention

Special Forum on »Global imbalances«: Global imbalances and the Chinese balance of payments


First paragraph

After the start of reform in 1978 China became one of the most successful developing countries in the world economically. China did not follow the philosophy of neoclassical development models upheld by the Washington Consensus and the savings-gap model. In fact, the Chinese miracle is unthinkable without a strong developmental state and the non-acceptance of long-term deficits in the current account. It is in keeping with the tradition of an Asian development model, as exemplified by Japan and later the smaller and bigger Asian tigers. One of the success factors of the Chinese ›miracle‹ is the export orientation of the Chinese economy. Along with others, China became one of the countries with huge current account surpluses.

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information