A merger of equals: The political economy of the World Bank’s early contacts with China
Federico Pachetti
Journal of Global History, 2024, vol. 19, issue 1, 98-117
Abstract:
This article assesses the initial contacts between the People’s Republic of China (PRC) and the World Bank during the early 1980s, following China’s admission to the institution in 1980. In the late 1970s, the PRC launched a new phase of economic reforms aimed at re-modelling its economic outlook. Collaboration with multilateral economic institutions such as the World Bank was a key part of its “opening up” strategy. By drawing on newly available records from World Bank archives, the article reveals how the Bank’s approach to China's economic development was tailored to meet Beijing’s specific economic conditions and needs, and welcomed gradualism as the best path for China's reform strategy. At times of free market triumphalism and heavy structural adjustment towards developing countries, the China case, the article stresses, shows a World Bank behaving not quite in line with what many would expect. Therefore, the article provides not only an account of a bilateral relationship but offers a new perspective and reflection of the history of the international political economy of the early 1980s.
Date: 2024
References: Add references at CitEc
Citations:
Downloads: (external link)
https://www.cambridge.org/core/product/identifier/ ... type/journal_article link to article abstract page (text/html)
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:cup:jglhis:v:19:y:2024:i:1:p:98-117_6
Access Statistics for this article
More articles in Journal of Global History from Cambridge University Press Cambridge University Press, UPH, Shaftesbury Road, Cambridge CB2 8BS UK.
Bibliographic data for series maintained by Kirk Stebbing ().