Developmentalism With Chinese Characteristics

In the last 40 years, "developmentalism with Chinese characteristics" has creatively combined the main dimensions that in the postwar era spurred the industrialization process in East Asia, where the State, through planning and control mechanisms, governed the markets, leading economic growth, and the process of structural change. The main characteristic that distinguishes the Chinese experience is the structure of its political power formed by a party-state that has great political autonomy and strong penetration in economic power. This power structure helped China to persevere its state-led national development strategy at a time when most national economies adhered to global neoliberalism, giving up such coordination in favor of an accumulation regime led by private corporations.