By Victoria V. Panova | China Daily | Updated: 2021-05-18 07:26
As China celebrates the 100th anniversary of the founding of the Chinese Communist Party this year, let’s analyze the country’s development in the international context.
Indeed, many consider China’s economic and social development to be a miracle. It’s hard to imagine today that just four decades ago, before reform and opening-up began, China’s per capita income was less than a third of the sub-Saharan African average. . With a trade-to-GDP ratio of less than 10%, China was an inward-looking country.
However, China is now the world’s second-largest economy and is expected to overtake the United States as the largest economy (in nominal terms) in a few years. In addition, the country’s share of global industrial production has reached one-fifth of the total, down from less than 2 percent just two decades ago.
China has also led by example in eradicating poverty by lifting more than 700 million people out of absolute poverty and contributing 70% of the world’s poverty reduction.
An integrated approach to economic, social and political governance is one of the main reasons for China’s success. It consists of gradual economic reform, including the gradual introduction of market institutions, smart tax reforms, and financial sector and exchange rate reforms.
China has gradually commercialized its economy by transforming the role and functions of government and strengthening the rule of law while gradually opening up the economy to the outside world and further integrating into the global labor market. These processes were accompanied by the creation of Special Economic Zones, which resulted in China’s entry into the World Trade Organization in 2001.
Other factors that have played an important role in this transformation include deep institutionalization, industrialization and urbanization, improvement of the economic structure and intensification of technology transfer. The rise of China on the world stage has given rise to a new model of industrial development marked by capital-intensive production with the support of high technology. Other peculiarities of the model are state-owned enterprises and partnerships with foreign investors, which in turn have helped transform China into a “workshop of the world”.
China has achieved unprecedented economic growth thanks to these bold and innovative ideas.
While these factors have enabled spectacular socio-economic development, China has launched a number of international initiatives that have helped stabilize world order and promote innovation.
Equally important, adherence to multilateralism, the maintenance of a fair and equitable global governance system and the respect for international law by China and Russia are the main factors that have kept the world from descending into chaos, despite attempts by some Western countries to undermine international law. world order.
China and Russia have always maintained that the Cold War mentality and zero-sum games have no future in today’s world and that cultural and political diversity is necessary for peaceful global development. .
The two countries believe that the ideological and political confrontation will get us nowhere. This is the basic principle on which China promotes peaceful global development by helping to build a community with a shared future for humanity, and Russia which upholds the sanctity of international law and the sovereign equality of states – which is in stark contrast to the preference of some Western powers for “totalitarianism in international relations,” as Russian Foreign Minister Sergey Lavrov said, via a video link, during the Security Council meeting from the UN earlier this month.
China’s position on international development issues is the same as that of Russia and forms the basis of the strategic partnership and friendship between the two sides.
During his phone call with Chinese President Xi Jinping last December, Russian President Vladimir Putin said Russia and China share common global interests and have the same views on many issues. Earlier, Putin said his friendly relations with President Xi had further solidified the partnership between the two countries.
In order to develop a fairer and more equitable world order, China and Russia have promoted multilateral organizations such as the BRICS, which have become a strong voice of the developing world. Beijing and Moscow also want all countries, regardless of their economic and military strength, to be treated as equal partners in the pursuit of global prosperity.
Incidentally, the new BRICS Development Bank was the first global financial institution to offer aid to countries to contain the COVID-19 pandemic and overcome its economic impact – and has already disbursed $ 7 billion among the BRICS states in this regard. effect.
In addition, China’s adherence to international law and multilateralism makes it an ideal partner of choice for other countries to improve global governance.
China and Russia, in fact the five BRICS states, advocate economic openness, liberalization of global trade and investment, and support the multilateral trading system centered on the World Trade Organization, while condemning all forms of protectionism. And to help build a more democratic world order, China and Russia advocate respect for sovereign equality, adherence to the United Nations Charter, and non-interference in the internal affairs of other countries.
In fact, China has succeeded in building a global network of partners because it emphasizes that no country pursues global domination and makes efforts to ensure that global development benefits all countries. It is on this principle that China proposed the Belt and Road Initiative, which aims to improve connectivity between countries and thus stimulate their economic development.
The Belt and Road Initiative, associated with the Eurasian Economic Union, offers a new impetus for global prosperity and sustainable development and could be seen as key elements of the partnership for the Greater Eurasia proposed by Putin.
It is therefore urgent to establish a closer partnership between the peoples of China and Russia, Eurasia and the world, and to use the centenary of the CPC and the 20 years of the Treaty of Friendship, Neighborhood and Cooperation. Russia-China to seek ways to build a community with a shared future for humanity and offer new innovative ideas for the global public good.
The author is vice-president of international relations at the Federal University of the Far East, scientific supervisor of the BRICS Expert Council, and adviser to the Russian Institute for Strategic Studies.
Opinions do not necessarily reflect those of China Daily.