Beijing Consensus
Today, those newly assertive state-owned enterprises (SOEs) are snapping up domestic rivals, expanding their market share and elbowing aside Western investors such as the Washington- based Carlyle Group in the quest for assets. Their rise comes as China surpasses Japan to become the world’s second-largest economy, and has helped inspire a new school of thought called the Beijing Consensus, which holds that state-directed capitalism can help developing nations avoid the financial upheavals associated with free markets.
The increasing clout of the SOEs has also triggered a debate among Western investors over whether China’s communists are building businesses better able to compete on the world stage or shoring up their own power by creating monopolies run by the party elite.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
