Thursday, December 30, 2010
Beijing Consensus, not Washington Consensus
Charles W. Freeman III, head of the Freeman Chair in China Studies at the Center for Strategic and International Studies (CSIS), published the Freeman Report titled “Heeding the Lessons of Failure” (December 2008). In the report, Freeman claims that China has never embraced the Washington Consensus by pursuing development goals within the framework of the U.S.-led economic order and under the security afforded by American leadership in the Pacific. After the meltdown on Wall Street started, the Chinese government proclaimed its development model, Beijing Consensus, to be an alternative of the Washington Consensus. When China’s Vice Premier Wang Qishan sarcastically pointed to his counterpart, former Treasury Secretary Hank Paulson, at the July (in 2008) meeting of the U.S.-China Strategic Economic Dialogue, “We’ve been listening to you as your students and now we find out our teacher has problems.” China is getting the role of superpower in the Asian region.