Emerging Economics

&Re-thinking
Development
“China as an alternative development model that
challenges the traditional Western-dominated approach.”

Presented by:-AYA ABOU HAMDAN

-HIBA GHAZZOUL
-MARC BOU KHALIL
-YAZBECK YAZBECK HANNA
 • The current global crisis calls for a rethinking of economic theories

Emergence of and economists should reexamine development theories.

• Non-Western economies began to emerge in the post-World War Il

Non-Western
period,
• Countries in Asia, Africa, and Latin America were particularly active
in pursuing development strategies
Economies • After WWII 13 economies among about 200 economies in the
world achieved an outstanding performance of growing
China's Approach to Development

•Asian country has made brilliant achievements and drawn

global attention.

•China has completed the industrialization process which

developed countries took hundreds of years to achieve

•China's economy in 2018 was worth US$13.6 trillion,

•the US economy which was worth US$20.5 trillion.

•China is the only country that possesses all the sections in

the United Nations' International Standard Industrial.

•China’s progress has not only contributed to political and

economic changes across the world.

China's Approach to
Development
CONT.’D
•China's approach to development has been
characterized by a strong emphasis on state
intervention and planning.

•The government plays a leading role in guiding

the economy, directing investments, and
promoting industrialization.

•China's development strategy has prioritized the

development of infrastructure and
manufacturing industries.

•China's approach to development has been

informed by its unique history, culture, and
political system.
 China is the World’s Most Rapidly Growing Major
Economy

Figure 1 similarly shows that China outperformed the main developing economies – the BRICS. China’s 6.9%
growth compares to India’s 5.7%, Russia’s 2.5%, South Africa’s 1.1% and Brazil’s 0.3%. The data for Indonesia, the
largest contributor to world growth outside the G7 and BRICS is also shown – Indonesia’s 5.0% growth ranked only
behind China and Indi
 3.China's approach to development VS the traditional
Western-dominated development model

Aspect China's Approach to Development Traditional Western-Dominated Development Model

Role of the State Strong state intervention and planning Emphasis on market-oriented approaches

Industrialization Prioritization of infrastructure and manufacturing industries Emphasis on service-based economies

Economic Growth Focus on achieving rapid economic growth Emphasis on sustainable development

Political System Emphasis on socialism with Chinese characteristics Emphasis on liberal democracy

Human Rights Emphasis on economic and social rights Emphasis on civil and political rights

Globalization Active participation in global trade and investment Emphasis on free trade and globalization

Cultural Context Development informed by unique history and culture Emphasis on universal values and principles
 3.China's approach to development
VS
The traditional Western-dominated
development model

• China have had a significant impact on

the global economy and have challenged
the traditional Western-dominated
development models.
• The rise of emerging economies has also
brought attention to the issue of
"developmental divergence .
• There has been a growing interest in
alternative development models that
take into account local needs, cultures,
and histories.
4. EMERGING ECONOMIES
INFLUENCE DIFFERENT SECTORS

•A- Emerging economies have influenced global

trade:
• Through their increasing share of world exports.
• The share of developing and emerging
economies in world merchandise exports
increased from 33% in 1990 to 48% in 2019.
•2) Through their changing trade patterns.
•China has become a major exporter of
manufactured goods, particularly electronics and
machinery, and has displaced other countries in
these sectors.
•3) Become important importers of goods:
•Developing and emerging economies accounted for
58% of world merchandise imports in 2019, up from
42% in 1990.
 4. EMERGING
ECONOMIES
INFLUENCE
DIFFERENT SECTORS

B- Emerging economies have influenced

Technology:

• China's scientific and technological

innovations have injected new momentum
into world economic growth
• In the field of high technology, China is
catching up and getting ahead.
C- Emerging economies have influenced
Education:
•Emerging economies have invested heavily in
education in the last few decades.
5. Conclusion

•  The traditional Western-dominated

development model may not be
appropriate for all countries,
particularly those with different
histories, cultures, and political
systems.
• The rise of emerging economies such
as China has provided a powerful
example of an alternative development
model.
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