Beijing Consensus

CORE DEFINITION

Beijing Consensus is a term in political science and economics, referring to a political and economic model developed by the People's Republic of China, distinct from the Washington Consensus, and similar in meaning to the China Model. Joshua Cooper, a senior advisor at Goldman Sachs, published a research paper at the Foreign Policy Centre in London, UK, pointing out that China, through hard work, proactive innovation, and bold experimentation, has found a development model suitable for its national conditions. He called this model the "Beijing Consensus." Joshua Cooper noted that the "Beijing Consensus" is characterized by hard work, proactive innovation, and bold experimentation (such as establishing special economic zones), resolute defense of national sovereignty and interests (such as handling the Taiwan issue), and gradual progress (such as "crossing the river by feeling the stones"), accumulating energy and using tools of asymmetric power (such as accumulating $400 billion in foreign exchange reserves). It focuses not only on economic development but also on social change, involving politics, quality of life, and the global balance of power, reflecting a development approach that seeks justice and high-quality growth.