The Chinese Economic Model Revisited: Any Implications for the New Economic Thinking?

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The president of INET, Johnson(2013) emphasized the importance of Asian tradition for building up the New Economic Thinking. “It is
my sense that the Asian tradition of thought and philosophical perspective are better suited to embracing this radical uncertainty and living in the experimentation of the adaptive complex system that our world appears to resemble than are the Western mindsets that are the product of the Cartesian Enlightenment.” In the summary he argues that “As the Asian societies continue to evolve the architects will be better served by an new economics for Asia and from Asia that is based on the notions of radical uncertainty, complex adaptive systems, mimetic desire, the inseparability of politics and economics, and a vision of a world where policy makers are themselves less knowing and less capable of control than we often yearn to believe is within their power.”

In the summary he argues that “As the Asian societies continue to evolve the architects will be better served by an new economics for Asia and from Asia that is based on the notions of radical uncertainty, complex adaptive systems, mimetic desire, the inseparability of politics and economics, and a vision of a world where policy makers are themselves less knowing and less capable of control than we often yearn to believe is within their power.” The theme of Toronto 2014 Conference is “Human After All”. Even though the theme of my session is “Economic Progress and Financial Reform in China”, I want to focus rather on the theme of the whole conference and the more fundamental issues. Under this background of the motivation of writing the paper, this paper tries to answer the following questions regarding the Chinese Economic Model (CEM).

-What is the CEM?

-Is there any relationship between the CEM and the Chinese and Asian Traditional Thoughts (CATT) ?

-Are there any implications of the CEM and CATT for the New Economic Thinking (NET)?