by Dr. Chen Man Hin
In 1977 when China launched the four modernisations in industry, agriculture, science and technology and military defence by Deng Xiao Peng, China’s GDP (gross domestic product) was only US$253 per person.
In 2006 the GDP per person had risen to about US$2000.
China is now a world economic giant in fourth position after USA, Japan and Germany.
In 2004, the gross domestic product of China was estimated to be US$2 trillion as compared to US$12.5 trillion for USA.
In 2006, its foreign currency reserves was US$1 trillion, most of which are in US bonds. If this was withdrawn, it would trigger a world economic chaos.
World economists predict that China would overtake the USA as the world’s largest economy in 2035 to become the world economic superpower.
VISIT TO CHINA FOR FIRST HAND ANALYSIS OF SUCCESSFUL TRANSFORMATION TO ECONOMIC SUPERPOWER STATUS
I last visited China some 20 years ago, and I can say the transformation of the country, towns and people is truly remarkable. Xi’an was a city of low rise buildings, but now its skyline is dotted with skyscrapers, and its roads replaced with multi-lane highways.Tthe newer parts of the city are tree-lined and planned like the cities of France with broad boulevards.
The city is divided into districts, each specialized such as university district, IT district, cultural district, industrial district, residential and ‘no night’ commercial district.
Information was gathered from businessmen, government officials and the man- in-the-street. The general opinion was that the tranformation was due to:
1. Former leader Deng Xiao Peng’s four modernisations which broke away from the old communist ways and changed to liberal policies.
2. Where before the country followed a command economy which caused stagnation and poverty, it now has embraced a ‘socialist market economy’ where business and other economic activities are allowed full liberalisation without unnecessary regulations and restrictions .
3. A leadership dedicated to the cause of progress and development to uplift living standards and who are scrupulously honest, disciplined and of absolute integrity.
4. A people, who supported the leadership and are very patriotic, very proud of their history and very disciplined and who are energetic and innovative. Their energy and dynamism have to be seen to be believed. They work as if their very lives depend on it.
These are the main factors which have propelled China to be an economic giant and the potential to be the world superpower.
The Prime Minister Datuk Seri Abdullah Ahmad Badawi should study and adopt the China formula for progress and development in Malaysia;