lørdag 13. juli 2019

Professor William H. Overholt: Is the China model a threat?

The China model of today no longer works, even in China. The long-term negative effect on the economy will likely be severe. Politically, the long-term consequences may be equally or more severe. Under Deng Xiaoping and Jiang Zemin, the Chinese Communist Party was a social vanguard, sacrificing its own levers of power to improve the lives of the people. Now it is an interest group, grasping to acquire and retain every available political lever even at great cost to national economic plans. Eventually people will regard it as an interest group rather than a vanguard.

This model cannot be emulated, in any comprehensive sense, by normal developing countries. The model is not unique to China, but it is unique to a group of countries that suffered terrible traumas in the 1940s and 1950s and had to risk political control and impose extreme social stress to address those traumas decisively. Chinese thought leaders have largely recognised that the model is not widely replicable.