Beijing Consensus: New Model of Development in Globalised Age

The present study aims to answer the question that what the fundamental grounds and characteristics of Beijing Consensus Model are and what challenges may be posed before it. Concentrating on characteristics of Beijing Consensus Model, the present study argues that positive factors inclusive of Development-oriented foreign policy, significant economic indicators and good performance in the East-Asia financial crisis as well as such negative ones as gradual incompetency of Washington Consensus Model have bestowed on Beijing Consensus, with characteristics like precedence of creativity, role of government and significance of social change in the globalized era and in accordance with development model trends, a considerable significance. Examination of development model trends in state-market relations and dealing with Beijing Consensus Model in terms of its grounds, characteristics and challenges are the main parts of the study.