The “Beijing Consensus” (BC) as a concept
has been utilised to distinguish China’s
economic development experience from the
“Washington Consensus” (WC), the policy
toolkit offered to developing countries by
Washington-based international organisations.
This paper posits that recent Chinese initiatives
in the international political economy constitute
the building blocks of an emerging BC with
potential to significantly influence developing
countries’ economic development trajectories.
In order to have a better understanding of the
emerging BC and its relation with China’s
economic development experience, the main
elements of the Chinese economic development
experience are compared to the WC and Post-
WC (PWC), and an early critical analysis of
the BC is provided. This analysis illustrates
that China does not try to export its economic
development model to other countries; the
BC has similar and distinguishing features
compared to the WC and PWC; and while
the BC offers some opportunities to developing
countries, it also involves some contradictions
and challenges.