The Beijing Consensus is simply three theorems about how to organize the place of a developing country in the world. Just like the Washington Consensus, it contains many ideas that are not all about economics, but also about politics and the global balance of power.
Although economic deceleration is expected and is not necessarily a terrible outcome for China, concerns over the transition are warranted. Indeed, the economy is facing numerous constraints, domestically and externally.
The importance of innovation which the Chinese government puts on economic growth merits a review of the issue and the lesson of productivity paradox in which the US experienced will hopefully shed some light.