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From Models of Capitalism to Models of Regulation: Comparing the United States and China in Regulating Artificial Intelligence

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  • Danko Tonev

    (University of National and World Economy, Sofia, Bulgaria)

Abstract

This publication compares the regulatory approaches to artificial intelligence (AI) in the national institutional context of the United States and China. Through comparative normative analysis it is demonstrated that China has been ahead to adopt more binding AI regulations than the U.S., which relies on a less centralized and more market governed and ethical approach. This observation corresponds to the two different capitalist economic models – ‘liberal’ in the United States and ‘state-permeated’ in China, according to the Varieties of Capitalism (VoC) comparative literature. The risk of AI overdevelopment has brought the two global economies closer to attempting to adopt risk-averse domestic regulations and seeking global partnerships for regulating AI global diffusion. Future competition between the two technologically most savvy nations is expected in promoting their own standardized values and practices and in inspiring further academic research.

Suggested Citation

  • Danko Tonev, 2024. "From Models of Capitalism to Models of Regulation: Comparing the United States and China in Regulating Artificial Intelligence," Godishnik na UNSS, University of National and World Economy, Sofia, Bulgaria, issue 2, pages 161-174, December.
    • Handle: RePEc:nwe:godish:y:2024:i:2:p:161-174
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    File URL: https://unwe-yearbook.org/en/journalissues/article/11618
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    More about this item

    Keywords

    regulation; artificial intelligence; capitalist models;
    All these keywords.

    JEL classification:

    • P10 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - General
    • P51 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

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