Reconciliation of the Washington Consensus with the Beijing Model in Africa

2016 African Governance and Development Institute WP/16/011

China and Africa: Cooperation to Competition, (Forthcoming)

20 Pages Posted: 31 May 2016

See all articles by Simplice Asongu

Simplice Asongu

African Governance and Development Institute

Jacinta Nwachukwu

University of Huddersfield - Business School

Date Written: March 13, 2016

Abstract

In this study, we argue that an approach which will reconcile the two opposing camps in Sino-African relations and bring the most progress is a “middle passage” that greases contradictions and offers an accommodative, balanced and pragmatic vision on which Africans can unite. We present a case under which countries can substantially enhance the prospect of development if an African consensus builds on a merger between the Western and Chinese models. We balance national interest with human rights, sovereign authority with individual rights and economic goals with political rights. The chapter presents arguments on the need for a development paradigm in Africa that reconciles the Washington Consensus with the Beijing Model. The analytical framework is organised in three main strands, notably: (i) historical perspectives and contemporary views; (ii) reconciliation of dominant schools of thought and paradigms surrounding Sino-African relations and (iii) practical and contemporary implications. Reconciled schools of thought are engaged in four main categories: optimists versus (vs.) pessimists; preferences in rights (human vs. national, idiosyncratic vs. sovereign and political vs. economic) and the Beijing model vs. the Washington Consensus.

Keywords: Economic relations, China, Africa

JEL Classification: F19, F21, O10, O19, O55

Suggested Citation

Asongu, Simplice and Nwachukwu, Jacinta C., Reconciliation of the Washington Consensus with the Beijing Model in Africa (March 13, 2016). 2016 African Governance and Development Institute WP/16/011. Available at SSRN: https://ssrn.com/abstract=2786244 or http://dx.doi.org/10.2139/ssrn.2786244

Simplice Asongu (Contact Author)

African Governance and Development Institute ( email )

P.O. Box 8413
Yaoundé, 8413
Cameroon

Jacinta C. Nwachukwu

University of Huddersfield - Business School ( email )

Queensgate
Huddersfield HD1 3DH
United Kingdom

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