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DOI: https://doi.org/10.13133/2037-3651/19012

Abstract

Since the time of Adam Smith, the debate on economic development has
generated significant theoretical reflections. However, since the 1980s,
with the advent of structural adjustment programmes, a neoliberal
paradigm has prevailed, promoted by the Washington Consensus.
Imposed on countries in the Global South, these policies have led to
deindustrialization, declining per capita GDP, and a loss of economic
sovereignty. In response, China has pursued an alternative path: the
Beijing Consensus, based on a gradual, planned, and autonomous
strategy of industrialization and innovation. By avoiding rapid
liberalizations and indiscriminate privatizations, China has achieved an
average growth rate above 5% for over forty years, surpassing the United
States in terms of GDP at purchasing power parity. This article examines
the role of the state and the Chinese Academy of Sciences in planning
technological and economic development. The analysis challenges the
negative predictions of Western economic literature and offers crucial
insights for rethinking development policies in the Global South.