The Chinese Alternative

Domenico Mario Nuti ()
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Domenico Mario Nuti: University of Rome

Chapter 10 in Collected Works of Domenico Mario Nuti, Volume II, 2023, pp 173-192 from Palgrave Macmillan

Abstract: Abstract The contemporary economic system developed by China in the last two decades, supremely successful in achieving economic growth, defies traditional classification. It has been variously defined as socialist (by Chinese leaders), capitalist (Kornai), state socialist (Coase and Wang), political capitalism (Milanovic), a unique system with features of both socialism and capitalism not conforming to either system (Kolodko). This essay seeks to support, substantiate and develop Kolodko’s notion of the uniqueness of China, while expressing greater pessimism than Kolodko about the economic, social and political sustainability of that system, its merits as a beneficial engine of globalisation and growth, and its exportability to other countries in the developed West.

Keywords: Contemporary China; Comparative economic systems; Economic growth; Globalisation; Sustainability; Inequality (search for similar items in EconPapers)
JEL-codes: N15 P21 P26 P36 P51 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:pal:stuchp:978-3-031-23167-4_10

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DOI: 10.1007/978-3-031-23167-4_10

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