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The Bretton-Woods institutions which were established after the Second World War and the neo-liberal policies adopted in 1980s known as the Washington Consensus were exposed to significant critics after the 2008 global financial crisis. Even though the Washington Consensus and the policies implemented have increased the profitability, they caused serious problems such as crises, disruptions in income distribution and inequalities. This than, led to the persistence of underdevelopment. In contrast to these policies, China and other Asian countries, following an alternative policy mix which is based on intensive intervention of government, have achieved extremely rapid growth rates and industrialization with a more equal income distribution. The validity and impacts of the Chinese model, which later called the Beijing Consensus, for emerging and middle income economies are still debated. The main aim of the study is to compare the Washington Consensus with Beijing Consensus within the context of emerging and middle income economies. The study also discusses the possible returns and future of Beijing Consensus.

Washington Uzlaşısı, Neo-Liberalizm ve Sonrası: Pekin Uzlaşısı Ezber mi Bozuyor?