Focus China: What to Expect During the Next 5 Years
The eyes of the world turn to China as the Communist Party of China (CPC) hold its 19th National Congress, where the CPC unveil new leadership and set the course for national development for the next 5 years and beyond.
Shayne and I believe that comprehensive, strategic and foresighted guidelines are expected to be raised at the 19th Congress.
China is aiming for a “moderately prosperous society” and a modern country as it move toward the world’s Center Stage.
This Congress comes at a Key time in the development of Socialism in the Chinese idiom, under which China has witnessed an economic miracle and accomplished amazing national goals.
Since I have been studying China, beginning in Y 2000, “Our Land” as it is know to its people, has grown steadily, remained stable and strong owing to its leadership
China has become the world’s 2nd-largest economy after 5 decades of rapid economic growth.
China’s GDP expanded by an average annual rate of 7.2% during Y’s 2013-2016, compared with 2.6% average global growth and the 4% growth of developing economies.
A Key advantages of the Chinese political system Vs the West, is its ability to develop long-term development plans and implement them effectively.
The CPC has maintained consistency in its commitment and policy-making while adapting to changing domestic and international conditions.
Last Tuesday the International Monetary Fund (IMF) raised its forecast for China’s economic growth to 6.8% for Y 2017, reflecting the country’s stronger-than-expected economic performance and its efforts in economic reform.
Under current circumstances, the national development entails pushing forward the “Four Comprehensives” as the nation has entered a new stage in its development.
The “Four Comprehensives” refers to a 4-pronged strategy to create a moderately prosperous society in all respects, deepen reform, advance rule of law and strengthen Party governance.
Completing the building of a moderately prosperous society by Y 2020 is a promise the CPC has made to the Chinese people.
After a moderately prosperous society is achieved by Y 2020, the Party and people of various ethnic groups nationwide will be motivated to build a modernized socialist country by Y 2049, the 100th anni of the People’s Republic of China (PRC).
Since its 18th National Congress in Y 2012, the CPC has shown it is serious about strict Party governance and tackling corruption. Experts said the CPC will continue its anti-corruption drive with more weight on prevention and education.
Back in December 2012, the central authorities issued the “8-point rules,” requiring government officials to strictly practice frugality and clean up undesirable work styles such as formalism, bureaucrat-ism, hedonism and extravagance.
Practices such as the use of public funds to buy gifts, hold banquets and pay for holidays have since been banned.
Now, the anti-graft drive has gained momentum.
The strict governance of the Party will always be an ongoing process, President Xi said, stressing that the future of a political party or a regime is ultimately determined by whether the people are for or against it.
We expect China to continue to actively participate in global governance reform and contribute Chinese wisdom to the world.
President Xi has proposed forging a community of shared destiny for mankind, as well as establishing a new type of international relations with Win-Win cooperation at the core.
The vision of building a community of shared future for humanity holds that all countries, big or small, are equal in terms of their right to development and political status, making a more harmonious and equal world possible.
This proposal, together with China’s Belt and Road Initiative, was incorporated into UN Security Council resolutions.
This vision, derived from traditional Chinese culture, presents Chinese wisdom for the world.
China’s average contribution to world growth in 2013-2016 was about 30%, the largest among all countries and higher than the total contribution from the United States, the Eurozone and Japan.
Anti-globalization is on the front burner in the US, however China will move to play its role in promoting trade liberalization and economic globalization, as well as advancing global governance and multilateral-ism.
We have watched this happen for that past 17 years, and it has been amazing.
Have a terrific week.
Latest posts by HEFFX Australia (see all)
- CK Hutchison (0001.HK) Worth A Look - August 9, 2020
- Hocquart History: A classic prep on a new path - August 7, 2020
- Hocquart Longines Preview: A battle of three parties - August 7, 2020