The phenomenal economic development achieved by China during the last four decades is probably an unparalleled event of modern history. Economists are of the unanimous view that by 2050 China will be the number one economic power of the world, and probably also in terms of military prowess.
Over the last 40 years, the GDP of China has been expanding at an average rate of 9.5 percent. The result is that China now accounts for 30 percent of global GDP. The reforms set in train in 1978 were premised on special economic zones in several provinces; the introduction of household responsibility system that allowed households to contract land, machinery and other facilities from collective organizations; the consolidation of state-owned enterprises and accession to the World Trade Organization in 2001. These policies boosted foreign investments exponentially besides encouraging entrepreneurship. The willingness of the Chinese leaders to implement pragmatic and impregnable economic policies enabled the country to escape the poverty trap and gave its 800 million people upper-middle class income status.
The commendable aspect of this development is that China also wants to lift the economic profile of other countries through the launch of its Belt and Road Initiative (BRI) with the China-Pakistan Economic Corridor as its flagship component. It is a concept of participative development which, unlike the Marshall Plan, has no ideological strings attached to it.
The fact that more than 150 countries and international organizations have signed agreements on Belt and Road cooperation with China amply demonstrates the faith of the participating countries and multilateral organizations in the BRI initiative and its potential to give the world a new global economic order predicated on participation and shared economic prosperity. The much awaited re-awakening of the East has come forth in the shape of BRI.
However the BRI initiative and its flag-ship component of CPEC is an eyesore for the USA and its western allies who perceive it as a threat to the global economic orders which promotes their vested interests. They are taking all possible measures to stop China from gaining the status of number one economic power of the world with a greater political role on the world stage.
The US trade war with China is one of the manifestations of the malice and grudge that it harbours against China but it will harm it more than the latter. Their economies have reached a point of saturation while China still has a vast potential to increase its economic prowess that will benefit the countries participating in the BRI because China is not only a global factory for producing goods and services for exports but is also a global market for other countries with ever expanding horizons. China is vying for removal of trade barriers and is willing to lower tariffs as well as removal of non-tariff barriers to meet ever-growing material and cultural needs of its people by giving them more choices and benefits.
The USA is feverishly pursuing a ‘Stop-China’ policy. It has also roped in some Asian countries including India, Japan and Australia forming ‘The Quadrilateral Security Dialogue’ commonly known as the Quad. The dialogue was initiated in 2007 by Japanese Prime Minister Shinzo Abe, with the support of Australian Prime Minister John Howard, Indian Prime Minister Manmohan Singh and U.S. Vice President Dick Cheney. It coincided with wide-scale military exercises titled Exercise Malabar. This diplomatic and military arrangement is widely viewed as a response to increased Chinese economic and military power. China views it as ‘Asian NATO’.
In view of the events on the roll and the impregnable position attained by China, the USA is well advised to rethink its hostile policies towards the former and develop a cooperative approach with it to find amicable solutions to the economic and political issues that hinder global peace and amity, if it is really interested in a peaceful world as claimed by it from every convenient roof-top. There is a need for setting aside false egos by recognizing the turn of events. Starting a new cold war would prove inimical to the interests of both the powers with its debilitating impact on other countries.
The USA has also been using other ploys to malign China besides staunch opposition to the one-China policy. It is continuously expressing support for Taiwan. It unleashed a vigorous maligning campaign against the policies of China in Hong Kong. The presence of the US naval fleet in the South China Sea represents its military muscle to check Chinese advancement in the region. It has also been persistently making a hue and cry over the alleged human rights situation in China notwithstanding its own poor record in this regard. But all the foregoing ploys by the USA seem to have failed as far as checking the burgeoning influence of China across the world is concerned. China has become almost unstoppable.
It is not only poised to become the number one economic and military power in the near future, but is also destined to assert itself as a peacemaker. Growing number of countries of the world have faith in its ability to play that role as well. China has manifested the effectiveness of its influence and diplomatic ingenuity–which stems from its unique economic achievements by brokering a rapprochement between Iran and Saudi Arabia, which almost seemed impossible in view of their unyielding hostility towards each other and battling it out in Yemen. Even the efforts made by some Muslim countries including Pakistan could not break the ice. This development in the backdrop of the gulf and some Middle Eastern countries burying the hatchet, promises a change for the better.
It is indeed an auspicious augury for peace in the Middle East and in our region as well. A ceasefire has come into effect in Yemen and the swap of prisoners has taken place. Iran and Saudi Arabia have also agreed to establish diplomatic relations with each after a hiatus of seven years. Reportedly, the Iranian President has also invited the Saudi King to visit Iran. All these developments taking place in quick succession are a strong pointer to enhanced prospects of peace and tranquility in the region. China has also made an offer to re-initiate dialogue between Israel and Palestine for a durable peace. That again is an appreciable step by China. However its success depends on how the USA views it and its restraint in regards to sabotaging it.
In view of the events on the roll and the impregnable position attained by China, the USA is well advised to rethink its hostile policies towards the former and develop a cooperative approach with it to find amicable solutions to the economic and political issues that hinder global peace and amity, if it is really interested in a peaceful world as claimed by it from every convenient roof-top. There is a need for setting aside false egos by recognizing the turn of events. Starting a new cold war would prove inimical to the interests of both the powers with its debilitating impact on other countries.
