By “An American expert mentioned that when the reform and opening-up started in 1978 under Deng Xiaoping, China talked about socialism with Chinese characteristics and reform through a market economy. They said that they felt this was impossible, that it was an experiment bound to fail, and that they just had to wait. Then the New York Times wrote the punchline: 40 years later, we are still waiting. I think this sums up the ignorance about China’s realities and development,” said host Mushahid Hussain Sayed, former chairman of Pakistan’s Senate Defense Committee, on CGTN’s show Global South Voices. This episode focuses on China’s incredible transformation over the past 75 years and the false assumption of “China is doomed.”
Salman Shah, former finance minister of Pakistan, discusses the historical context of China’s economic rise, attributing it to deep economic reforms and strategic organizational decision-making. He emphasizes China’s unique system of decentralized implementation, which allowed for rapid development and adaptation at local levels. Dr. Shah highlights the new direction under Chinese President Xi Jinping, focusing on high-quality development driven by advanced technologies like AI, semiconductors, and green energy. He also discusses the importance of China’s economic stability and its potential to lead the world in technological innovation.
Wang Wen, executive dean of the Chongyang Institute for Financial Studies of Renmin University, counters the notion of China’s economic collapse with three primary arguments. Firstly, Western economists often analyze China through their own economic lens, focusing on risks without recognizing China’s ability to absorb and mitigate these risks through development and collective efforts. Secondly, there exists a deep-seated bias against China, rooted in historical discrimination, which undermines belief in China’s capacity for success despite its significant transformation from poverty to prosperity. Thirdly, some elements seek to demonize China, aiming to provoke its collapse through containment policies, which Wang dismisses as misguided and bound to fail. He asserts that China will continue its steady development, debunking collapse theories while advancing progressively.
Tan Sri Ong Tee Keat, president of the Belt and Road Initiative Caucus for Asia Pacific (BRICAP), reflects on the exponential growth of China’s economy, particularly post-WTO accession. He credits the robust performance to China’s competitive labor force, innovative policies, and strategic investments in infrastructure and technology. Ong acknowledges the hard work and ingenuity of the Chinese people and counters premature judgments about the end of China’s economic rise. He notes that despite global economic uncertainties, China continues to lead in key areas and remains a crucial player in the international arena. Ong also highlights China’s role in promoting global infrastructure development through initiatives like the Belt and Road Initiative (BRI).
Farhana Paruk, a seasoned Africa-China specialist, and also the first ever female guest of the show, explores the deep and historic ties between China and Africa, emphasizing China’s role in supporting African liberation movements and development projects over the past 50-60 years. She highlights the ongoing close camaraderie and shared development goals between the two regions. Paruk discusses how China’s investment in African infrastructure, education, and healthcare has significantly contributed to the continent’s development. She also addresses misconceptions about China’s involvement in Africa, emphasizing the mutual benefits and collaborative nature of their partnerships.
Throughout the episode, the guests collectively debunk the “China collapse” theory. They present evidence of China’s strong economic fundamentals, including its vast consumer market, technological advancements, and robust industrial base. The discussion highlights how China’s strategic planning and adaptability have enabled it to navigate global challenges, such as the COVID-19 pandemic and trade tensions. The guests argue that the predictions of China’s imminent collapse are based on a misunderstanding of its economic model and a disregard for its proven track record of resilience and innovation.
