This article explores certain characteristics of the Chinese model starting from its institutional particularity, the relationship between state and market. The success of the Chinese miracle is related to the liberalization of market forces, but it is also indebted to the role of the Developmental State, which played an important role in the strengthening of productive and technological capacity. However, lack of dividing lines between State and market also implies particular difficulties, manifested through the excessive intervention of the party and deficiencies in the financial and property rights systems. On the one hand, the economy is benefited by the strength of the State and the measures that have been adopted to bolster its international position. On the other hand, there are tensions between a more complex economy and a very specific institutional structure. Another point to be explored lies in the efforts that have been adopted to strengthen industrial and technological capacities, inquiring into the efficacy of industrial policy at the present stage of capitalism. Finally, the article looks at other challenges of the Chinese model, including those of the social arena, discussing how they have been faced.
China; Institutions; Development; Developmental State; Political Economy