Xi Jinping faces big challenge to preserve China’s prosperity

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China has been the fastest growing country in the world for the past four decades and has managed to position itself second only to the United States (US) in a unipolar world after the dissolution of the Soviet Union.

Beijing: In the ninth decade of the last century, when the world’s communist governments were collapsing and the countries ruled by them were falling apart, China was the only country with a communist regime that was heading towards prosperity.

At the time, Marxist thinkers around the world were debating a new beginning for Chinese capitalism. Marxist thinkers believed that China’s move towards a market-based communist economy would prove suicidal.

He thought that in this way China would not be able to become a successful economy like the capitalist countries, nor would it be able to maintain the basic principle of equitable distribution of resources under communism.

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But the prosperity that China has experienced since the economic reforms that began in 1978 proves Western opponents of the Chinese system wrong. China has been the fastest growing country in the world for the past four decades and has managed to position itself second only to the United States (US) in a unipolar world after the dissolution of the Soviet Union.

With ₹13 trillion, China is today the second largest economy in the world after the US and many economists are predicting that it will overtake the US by 2032.

Before the global outbreak of Corona in the year 2020, no country in the world was seen challenging China. Not only this, China started trying to establish diplomatic supremacy in the world through the Belt and Road Initiative (BRI).

Despite all the sanctions and threats from the then US President Donald Trump, the pace of development of China remained the same. After the spread of Corona all over the world, the public was ready against China, but no country had the courage to challenge it directly.

Troubled by China’s expansionist policies, India, Australia and Japan got America’s support and an anti-China coalition also emerged in the form of Quad. There was talk of ending dependence on China as a supply chain to keep the world economy afloat, but it will take a long time to materialise.

Surprisingly, when the whole world including America has recognized China as a global power, in October 2020, the Chinese government took action against Asia’s richest man Jack Ma.

Initially, it was believed to be the result of Xi Jinping Personal disputes with Jack Ma, but later when other companies began to be targeted, it became clear that China had decided to return to communist roots.

In general, there is nothing wrong with China’s decision to return to communism, but there is a flaw in the essence of the ideology of communism, which pushes countries that adopt it down a roadblock. Where there is no way out.

In fact, the basic principle of Marxism rests on the equitable distribution of capital, where no one will be rich and no one will be poor. Everyone has equal rights on property and resources. This is a truly revolutionary thought, which has long overwhelmed a section of youth and intellectuals all over the world.

with the bolsheviks revolution in During the early 20th century and the subsequent formation of the Soviet Union, the work began to take shape. The Soviet Union had a long list of countries under communist rule, but within six decades its burden began to disintegrate.

The biggest weakness of the communist regime was to stop the development of capital. The whole emphasis of all the leaders who implemented it was on the equitable distribution of existing resources and capital and in this order the natural pace of development of resources and capital was blocked. Its ill-effects were seen in all the countries under communist rule. This can be understood with the example of East and West Germany.

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After World War II, East Germany and West Germany split between the Soviet Bloc led by the Soviet Union and the Western Bloc led by the United States (US), respectively.

The Soviet Union implemented a system of communist rule in East Germany, in which citizens were given equal rights over resources on the principle of equitable distribution of capital. The capitalist system of government was introduced in West Germany, which opened the door to the infinite development of capital.

At the time of partition, the per capita income of East Germany was higher than that of West Germany, but at the time of the unification of East and West Germany in 1991, the per capita income of East Germany was less than a third of that of West Germany. It is clear that despite the equitable distribution of capital resources, the economic condition of the people of East Germany continued to deteriorate. This is the fundamental flaw of the communist regime.

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While it may seem to Xi Jinping that under the leadership of the Chinese Communist Party, China has reached new heights of development on its own in the past four decades, the truth is that it has driven massive capital flows from capitalist countries. .

Obviously, after the capital reversal, it will not be easy for China to maintain the pace of development and maintain the prosperity it has achieved so far. In the last one year only, signs of this have started showing.

First published:October 7, 2021, 12:32 pm

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