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DragonomicsHow Latin America Is Maximizing (or Missing Out on) China's International Development Strategy$
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Carol Wise

Print publication date: 2020

Print ISBN-13: 9780300224092

Published to Yale Scholarship Online: September 2020

DOI: 10.12987/yale/9780300224092.001.0001

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PRINTED FROM YALE SCHOLARSHIP ONLINE (www.yale.universitypressscholarship.com). (c) Copyright Yale University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in YSO for personal use.date: 11 April 2021

From State to Market: A Fork in the Reform Road

From State to Market: A Fork in the Reform Road

Chapter:
(p.93) 3 From State to Market: A Fork in the Reform Road
Source:
Dragonomics
Author(s):

Carol Wise

Publisher:
Yale University Press
DOI:10.12987/yale/9780300224092.003.0004

This chapter undertakes a cross-regional comparison of the developmental paths of China and the Latin American countries of Argentina, Brazil, Chile, Mexico, and Peru (LAC 5). It traces the economic histories and policies implemented within the LAC-5 from the 1950s until the 1980s before turning to China to do the same from the 1980s onward. The author argues that the contrasting underlying logic between the Washington Consensus and the Beijing Consensus can explain the widely divergent outcomes in the development of Latin America and China.

Keywords:   Import-Substitution Industrialization, Hyperinflation, Washington Consensus, Privatization, Trade liberalization, Deregulation, Beijing Consensus

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