The paper examines, on a comparative plan, the market reforms in the countries of Central and Eastern Europe (CEE) and China, as well as the consequences of their introduction. It defends the thesis that the doctrine of neoliberalism, which is lying in the basis of the Washington Consensus and the activity of the IMF, is of a decisive importance for implementation of the "prorecessional" model of transition to market economy in the countries of CEE.
Analyzed are the contents of and the reasons for the emergence of the Washington Consensus and the accent is on the negative consequences of its implementation in the process of reforms in the countries of CEE, and more specially on the following aspects: confusing of aims with means in the model of the market reform, as well as in the methodologies of evaluation of the reached results; slowing down of the institutional reform; generating negative shocks on internal and external demand; and creating conditions of spreading poverty, corruption and crime.