Revisiting China’s market economy status: state capitalism within the WTO liberal trading system

Boyka Stefanova and Paskal Zhelev

MPRA Paper from University Library of Munich, Germany

Abstract: This paper examines the question of China’s compliance with market economy principles. China has reformed away from central planning in the past four decades, but has it achieved a fully-fledged market economy? The paper sheds new light on the contested nature of China’s market economy status from a political economy perspective. It draws on the Varieties of Capitalism analytical framework to posit China’s market economy status as the product of its national model of state-dominated institutional complementarities between high levels of trade openness and domestic regulation, including nonmarket principles for the deployment of financial resources and labour.

Keywords: China, socialist market economy,; WTO; varieties of Capitalism (search for similar items in EconPapers)
JEL-codes: F13 O24 P16 P33 P51 (search for similar items in EconPapers)
Date: 2022
New Economics Papers: this item is included in nep-cna and nep-hme
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Published in Australian and New Zealand Journal of European Studies 2.14(2022): pp. 94-111

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:114865

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