by Monjurul Ahsan Bulbul
Editor-in-Chief of TV Today, Bangladesh
To me, China is a present Global Leader. It will be future leader too.
In present world, only the United States fulfills the criteria to be considered a superpower. On the other hand China, the European Union, India, and Russia have consistently been academically discussed as having the potential to attain superpower status.
Some analysts describe China has significant leads in advanced materials and manufacturing, energy, biotechnology, sensors, and certain elements of artificial intelligence (AI), while the United States leads in design and development of advanced microchips, quantum computing, and vaccines,
The current president is Xi Jinping, who took office in March 2013. Historical back ground reveals the office was first established in the Constitution of the People’s Republic of China in 1954 and successively held by Mao Zedong and Liu Shaoqi.
In the past two decades, China has reemerged as a major power, with the world’s second largest economy and a world-class military. It increasingly asserts itself, seeking to regain its centrality in the international system and over global governance institutions.
After the 1978 Economic Reform, China’s economic development has been on a fast track ever since. Later on, the successful accession into the WTO in 2001 accelerated China’s economic transformation and made it more integrated with the world. Today, as the second-largest economy in the world, China has earned herself a leading role on the world stage beyond dispute.
Some international acclaimed surveys describes China’s economy in four parts — economic institutions, economic problems and challenges, economic policies and economic analyses.
Chinease military’s mission is defence of the realm, which it is fully equipped to do. It It has full retaliatory capabilities, regional and intercontinental. The world is moving towards multi-polarity, more equality between nations, to replace superpower and hegemony. China is at the forefront of this dynamics. Its foreign relations will remain steeply in economics, in normal business relationships, and in cooperative and structured relationships, such as BRI, BRICS, ASEAN-China FTA, and RCEP.
The world trend is similar to politics, moving towards a multi-currency system. US$ hegemony is dated. China, Russia, and BRICS are the leading players. Internationalisation of the Chinese Yuan is gaining strength. International demand for US$ will fall as more and more trade are done in the local currencies. Share of US$ in central banks reserves has fallen, as has foreign holdings of US Treasury bonds.
China is the top trade partner, exports and imports, with about 3/4 of the nations in the world. It is the world’s most prolific manufacturer and exporter of the widest range of manufactures, and the world’s largest market for commodities and manufactures. China is the centre of the international supply-chain.
China’s strength in manufacturing is unassailable, the manufacturing hub, a manufacturing supermarket. In the last two generations, it developed the clusters of local and foreign companies and industries, synergies, international and local networks, institutions, skills, logistics, and support services, that are not replaceable. It is the leader in high-tech manufacturing, and extending its lead. It stands shoulder to shoulder with the US across the spectrums of technology.
China growth has raised the boats in its neighbourhood and beyond, through trade, supply-chain, transfers of skills, and relocation of factories and production – spreading secondary sector activities and creating synergies in developing countries. This is unprecedented in the world. US left the countries in Latin America under developed. Europe’s colonialism left the countries in Africa and Asia in the dust. Industrialisation did not see the light of day until the dawn of China.
China continues to upgrade its technology and processes. There will be more relocation and transfer of technology to the developing countries. BRI network may be seen as an external wing of China’s industrial leadership.
Some experts says: There will be no world leader in the sense of hegemony. The world will be multi-polar with respect to politics, economics, and currency. Countries would not be coerced into particular silo, but will have the flexibility of relationships.
My personal impression went to the almost century old history of China. The Chinese Civil War in the period from 1945 to 1949, was a monumental conflict between two major political forces in China: The Chinese Communist Party (CCP) and the Nationalist Party, also known as the Kuomintang (KMT).
On October 1, 1949, Chinese Communist leader Mao Zedong declared the creation of the People’s Republic of China (PRC). The announcement ended the costly full- scale civil war between the Chinese Communist Party (CCP) and the Nationalist Party, or Kuomintang (KMT), which broke out immediately following World War II and had been preceded by on and off conflict between the two sides since the 1920s. The creation of the PRC also completed the long process of governmental upheaval in China begun by the Chinese Revolution of 1911.
The China Model portrays the Chinese communist party-state as fully in charge with the developmental process in China. The party-state also had widespread legitimacy, and unlike its communist counterparts in Soviet Union and Eastern Europe, the Chinese communist party-state is not under any threat of revolution.
The Beijing Consensus (Chinese: 北京共识) or China Model (Chinese: 中国模式), also known as the Chinese Economic Model, is the political and economic policies of the People’s Republic of China (PRC) that began to be instituted by Deng Xiaoping after Mao Zedong’s death in 1976.
One of the key highlights of China’s development strategy is its Great Leap Forward (GLF). The strategy aimed at the high-scale industrialization of the economy. Rural communities were allowed to undertake collective cultivation.
China has an upper middle income, developing, mixed, socialist market economy incorporating industrial policies and strategic five-year plans. China has an upper middle income, developing, mixed, socialist market economy incorporating industrial policies and strategic five-year plans. It is the world’s second largest economy by nominal GDP, behind the United States, and the world’s largest economy since 2016 when measured by purchasing power parity (PPP).
The growth of the non-state sector has been the driving force in China’s development. Marketization and opening to the outside world—not industrial policy or protectionism—allowed China to make better use of its resources and widened the range of choices open to people. Reforms such as strengthening the business environment and ensuring a level playing field between private and state-owned enterprises will improve the allocation of capital.
The founding Father of Bangladesh, Our Great Leader Bangabandhu Sheikh Mujibur Rahman visited China PRC few years after revolution and wrote his Memoirs “ Amar Dekha Naya Chin (New China as I see it) ’. He has been closely observe the challenges and opportunities, the commitment of the political leadership and sacrifices of common peoples. As a Bangladeshi I have the same impression on present days China.
In conclusion, as I see the present days China as: It was born on the flame of revolution but with the far sight of the leadership and through the long term sacrifice of the common people the Modern china is the role model as Global leader. China is far beyond of it heritage the Chinese Great Wall, it is really Great China.
*The views and opinions expressed in the articles are solely those of the individual authors and do not reflect the position of the Secretariat of the Belt and Road Journalist Network.