Beijing (Duran) – Xi Jinping’s speech is indicative of China’s commitment to her sovereign minded political system and unique “market socialist” economic system that have guided China to becoming a world class economic powerhouse.
Chinese President Xi has addressed a large meeting of the Communist Party of China (CPC) in preparation for the forthcoming 19th National Congress of the Communist Party of China.
During a wide ranging speech, President Xi stated that China must reaffirm and bolster both its Chinese characteristics as well as the socialist traditions of the CPC. According to Chinese media, Xi stressed “that socialism with Chinese characteristics had been the theme of all the Party’s theories and practices since the reform and opening up in 1978”.
1978 was the beginning of landmark internal reforms in China by Deng Xiaoping who was China’s Paramount Leader between 1978 and 1989. During this time, China embarked no a programme Deng called “market socialism”.
“A basic contradiction between socialism and the market economy does not exist”.
This underlies the pragmatic reforms which have underscored China’s economic boom, one which has led the country to becoming a global economic super-power which is set to fully overtake that of the United States in areas where it has not already done so.
This reality was made unambiguous when the IMF head Christine Lagard recently confirmed that it may move its headquarters from the US to China in line with the fact that the IMF must be located in the world’s top economy.
China’s economic miracle was accomplished without changing its political system nor its independent foreign policy.
I previously wrote the following in The Duran about China’s positive growth due to the leadership and principles of Deng Xiaoping:
“Deng is the perfect example of applying moderate reforms with the zeal of a quiet revolutionary. Too often in other countries people get it the wrong way around. In the Soviet Union, Gorbachev and his right hand man Alexander Yakovlev introduced anti-patriotic reforms which lead to the illegal disintegration of the Soviet Union and the economic chaos of the 1990s where pirate oligarch capitalism destroyed one of the most prosperous state’s in history. The USSR could have been easily saved had a Russian Deng appeared, instead Russia ended up with Boris Yeltsin, a drunken traitor seduced by the incompatible economic systems of the west.
Deng Xiaoping was able to avoid the worse excesses of the ideological dogmas of Mikhail Gorbachev, Yakovlev and later Yeltsin by focusing not on the demands of foreigners or the misunderstood needs of those in his country, but instead by focusing on the practical needs of the economy and the power that China’s untapped workforce had in unleashing a new era of prosperity and happiness upon the nation, one that Chinese Premier Zhou Enlai had advocated for shortly after Mao’s death.
China has also more recently learned from the United States whose political model has resulted in a totally dis-unified Washington whose scandals are being played out on a world’s stage, the unsubstantiated ‘Russiagate’ scandal being foremost among the many current American scandals.
With China set to overtake the US as the world’s most powerful economy, China clearly has got the balance objectively correct.
In this sense Xi’s speech was an admonition to not only stay the course but to become more emboldened and unapologetic about the country’s unique Chinese model that is now the envy of much of the world.