||After the Asian Financial Crisis in 1997 and the Financial Recession of 2008, the economic setback experienced by many countries lead to domestic political and social chaos, sparking national discussions regarding future economic developments strate-gies. In 2004, Joshua Cooper Ramo outlined a controversial economic development model which he named the “Beijing Consensus,” modeled after China’s record break-ing economic development success, which he coined the “Beijing Consensus.” How-ever, the “Beijing Consensus” sparked a great controversy. The “Beijing Consensus” economic model represents an alternative to the “Washington Consensus”, based in market-friendly policy, symbolizing the competitive relationship between China and the U.S.A. in the international community.|
Within this context, this thesis examines and discusses the implications of the “Beijing Consensus” debate. The “Beijing Consensus” will influence China’s position in the international community whether or not it is widely accepted. This paper uses “Soft Power” theory as a research approach, regarding the Beijing Consensus theory as a mechanism of Chinese soft power and examining its effect on China’s interna-tional position and economic success.
That being said, although the “Beijing Consensus” provides four new strategies for successful development—“innovation, stability, and independence”, “gradual and orderly reforms”, “authoritarian government” and “high efficiency and flexibility,” China’s success has been accompanied with lots of problems. For the “Beijing Con-sensus” theory to become the new model of development and the soft power of China to influence other countries and build up its own international recognition, there exist many obstacles that this development theory must overcome.