The Transition from Neoliberalism to State Neoliberalism in China at the Turn of the Twenty-First Century

Alvin Y. So, Yin Wah Chu

Research output: Chapter in book/report/conference proceedingChapterpeer-review

Abstract

Neoliberalism emerged in the late 1970s as a new policy framework to guide the development orientation in not only the South but also the North and the East. In the 1990s neoliberalism found expression in the so-called Washington Consensus as a way of articulating the economic orthodoxy that prevailed in the U.S. Treasury Department, the World Bank, and the IMF. Beeson and Islam (2005, 4) point out that neoliberalism and the Washington Consensus are meant to favour the unfettered operation of the market and to roll back the reach of the state. The states, in both rich and poor nations, have been urged to embrace “macroeconomic prudence” (a euphemism for control of inflation and for maintaining tight budgets), deregulation, privatisation, trade and financial liberalisation, lower taxes, and small government.
Original languageEnglish
Title of host publicationDevelopmental Politics in Transition
Subtitle of host publicationThe Neoliberal Era and Beyond
EditorsChang Kyung-Sup, Ben Fine, Linda Weiss
Place of PublicationLondon
PublisherPalgrave Macmillan
Pages166-187
Number of pages22
Edition1st
ISBN (Electronic)9781137028303
ISBN (Print)9780230294301, 9781349333325
DOIs
Publication statusPublished - 2012

Publication series

NameInternational Political Economy Series
ISSN (Print)2662-2483
ISSN (Electronic)2662-2491

User-Defined Keywords

  • Fiscal Decentralisation
  • Chinese State
  • Capitalist Class
  • Washington Consensus
  • Fiscal Capacity

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