The China Model of State Capitalism: Appeals and limitations
Professor Suisheng Zhao, University of Denver and editor of the Journal of Contemporary China
Co-presented with the China Studies Centre, and the Confucius Institute, University of Sydney
The financial crisis that started from the US and swept quickly across the globe seems giving the Chinese style state capitalism an advantage in its rivalry with Western style democratic capitalism. While the West countries continue struggling to recover slowly from the recession, the Chinese economy rebounded quickly and strongly. For some people, China's impressive rebound from such a precipitous recession proves that a China model has emerged and will work better for China and some other developing countries than the Western model of modernisation. To what extent has China provided a distinct model of modernisation and what are its appeals and limitations? Seeking answers to these questions, Suisheng Zhao argues that while China indeed presents a unique model of rapid economic growth and relative political stability, it is hardly a victory of state capitalism. For all its appeals, the China model has serious flaws that may threaten its sustainability.
Professor Suisheng Zhao is Professor and Executive Director of the Center for China-US Cooperation at the Josef Korbel School of International Studies, University of Denver. He is the founding editor of the Journal of Contemporary China, the only English language journal edited in North America that provides exclusive information about contemporary Chinese affairs for scholars, businessmen and government policy-makers. He is a Research Associate at the Fairbank Center for East Asian Research in Harvard University, and an honorary jianzhi professor at Beijing University, Renmin University, China University of International Relations, Fudan University and Shanghai Foreign Studies University.