ABSTRACT
This chapter provides a first-cut analysis of the China model. It examines the China model in terms of history, political economy, institutions, operation, growth model, information flow, and aid model. Some leading academic economists are proponents of a political economy approach. China's political economists focus particularly on competition by local governments as the source of Chinese economic growth. The China model debate in China has been waged among government officials, social scientists, humanists and dissidents, roughly along the ideological lines of liberalism, new-leftism, and nationalism. The China model is a historical phenomenon. China and some other successful developing countries have shown that industrial policy may work if it is anchored in the requisite endowments. China's development strategy is inseparable from its reform, which involves a dynamic interaction between marketization in the economic and political realms. Chinese government was to reform the Chinese economy and connect with the global market.
