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The Evolution and Transformation of Chinese Development Model: From Developmental State to State Capitalism?

Yoon, Sang-Woo 1

1동아대학교

Accredited

ABSTRACT

This study attempts to examine the evolution of the Chinese development model since 1978, and seeks to identify current features and traits of the Chinese model as ”state capitalism.” While the Deng and Jiang government (1978-2002) actively brought institutional factors of the East Asian ” developmental state” into the Chinese development model, the Hu government (2003-2012) pushed for re-orientation of the Chinese model toward state capitalism by reinforcing state-owned enterprises and strengthening control of the state over the economy. Furthermore, the Xi government (2013-present) has continued to maintain the state capitalism model in spite of some revisions and minor adjustments. Why did the Chinese development model transform into state capitalism? This study identifies the strategies of the Chinese Communist Party-State leadership as core factors of China’s shift. Chinese Communist Party-State leadership has pursued the strategies of state capitalism in order to regain Chinese market share from foreign companies and to foster Chinese state-owned enterprises as global champions.

Citation status

* References for papers published after 2023 are currently being built.