Question

differentiate between mercantilist and liberalist theories, critically analyising the extent of these IPE theories adopted by china

Answer 1

Mercantilism	Economic Liberalism
Mercantilism is an IPE theory which focuses on maximising exports and minimising imports for a nation	Liberalism is an IPE theory that believes in supporting a market economy and private liberties.
This theory believes in using trade as a measure for national benefits	This theory believes in absolute growth of a nation's wealth
There might be conflicting interests	Liberalism believes in shared interests

China's mercantilist growth strategy over the years have been about maintaining export boosts through low currency exchange rates. Mercantilism has given China the platform to be a net creditor to other nations and thus grow as an economic superpower.
Whereas, China also supports a market economy based socialistic culture wherein the government does intervene, but there is also equal and parallel support to the concept of private/individual ownership, hence the shared interests of both the dominant state and private consumers.