Chinese modernisation may baffle the West, but it works
- The ability to experiment, learn and adapt, and to embrace seemingly opposing concepts simultaneously, lies behind China’s rapid economic transformation
- Xi Jinping’s resolve to achieve both higher-efficiency growth and common prosperity, and to balance manufacturing prowess with sustainable development, should be seen in this light
Chinese thinkers and leaders began to reflect on how China should modernise itself in the early 1840s. Since then, there have been many rounds of reflection and attempts at revitalisation. The period between the First Opium War and the late 1970s was marked by almost continual tumult.
That this pragmatic approach has delivered economic growth is evident to the world. China is now seeking its own path to modernity, one that is compatible with its own history, culture and civilisation.
The concept of “Chinese modernity” is rooted in traditional Chinese thought – Confucianism, Daoism, Mohism, Legalism and others – shaped by outside influences, predominantly Buddhism, around 2,000 years ago. The adoption of Marxism in 1949 and of market economics since the start of reforms attest to the continued evolution of Chinese civilisation.
This multilayered structure and cooperation between seemingly competing sections of society, coupled with a willingness to experiment, learn and adapt, has delivered sterling growth.
My guess is that Ching meant the developed world believes that concepts like socialism and capitalism, collectivism and individualism, and ideology and pragmatism cannot coexist with each other. For them, it is “either or”.
Philip P. Pan of The New York Times is one of the few in the West who has come close to comprehending China. In 2018, he wrote in an article titled “The Land That Failed to Fail” that China has veered “between opening up and clamping down, between experimenting with change and resisting it, always pulling back before going too far in either direction for fear of running aground”.
China’s immense ability to experiment, learn and adapt since its reform and opening up, and to embrace seemingly opposing concepts simultaneously, has enabled it to achieve rapid economic transformation. While entrepreneurial individuals have taken giant leaps in business, among the masses there is a collective desire to re-establish China as one of the world’s most influential nations – a position the Chinese believe they deserve.
As with any experimental approach, occasional problems are bound to arise, but China’s track record in development over the last several decades has been significant. Some may argue for the “Chineseness” of such an approach. However, I believe the underlying factors are universal, logical and rational.
China has demonstrated a broad capability for industry, science and technology, and it continues to progress towards becoming a modern society. It is fair to foresee that China is going to contribute significantly to the making of a new world economic order.
Edward Tse is founder and CEO, Gao Feng Advisory Company, a strategy consulting and financial advisory firm, with roots in China