Current location:International Intricacies news portal > entertainment
Insights丨Experts call for a fair reading of China’s prospect
International Intricacies news portal2024-05-22 11:22:48【entertainment】3People have gathered around
IntroductionBy Chen Tianhao, Feng Shuang(ECNS) -- With China and the U.S. contribution to the world GDP coming o
By Chen Tianhao, Feng Shuang
(ECNS) -- With China and the U.S. contribution to the world GDP coming out respectively, debate has been heated up again surrounding the trend of "a rising East and a declining West." In responding to related questions, experts share their confidence in China's development and call for a fair reading of China's hopeful prospects.
According to China's National Bureau of Statistics and the Bureau of Economic Analysis (BEA) of the United States Department of Commerce respectively, China's 2023 GDP reached a total of RMB 126.06 trillion (U.S.$17.52 trillion), while that of the U.S. stood at US$27.37 trillion.
Some analyses claimed that China's share of global GDP in 2023 has dropped while the U.S. has been keeping the up trend for two consecutive years, which was interpreted by some media as proof of a dismal outlook for China's economy.
Guangming Daily published an article refuting such analysis, stating that it is not comprehensive enough and lacking both historical perspective and foresight. The article argues that the increase in the share of the U.S. economy in the world is mainly influenced by short-term factors such as the rise in U.S. price levels and the significant appreciation of the U.S. dollar. Overall, it suggests that the share of developed economies led by the U.S. in the world economy will decline after a brief increase, while the share of developing economies led by China will rebound after a temporary decrease. The overall trend of the rising in the East and declining in the West remains unchanged.
Josef Mahoney, professor at East China Normal University, points out that in a difficult period fraught with challenges globally, "China is still experiencing rejuvenation while should also be wary of the domestic and international risks, opportunities and responsibilities befitting a rising, major power," so a proper perspective requires understanding that ups and downs are normal in such times, while remaining confident in the overall, positive trend.
Mahoney elaborates on his thought, noting that "China has emerged as a major power in this new era precisely because it has already established itself as a technology power, and to some extent China has equaled and in some cases surpassed the U.S. in some tech fields."
He also thinks that "evidence of that is found in China's world-leading national industrial system, world-class infrastructure, and its green innovation and development. It's also the case that it was through the progressive development of China's technological society that other achievements have been possible, including lifting about 800 million people out of abject poverty, eliminating extreme poverty altogether, and establishing a middle-income population exceeding 400 million."
In addition, Mahoney points out that these achievements are "rightfully credited to a political system described as 'whole process people's democracy', which has advanced national rejuvenation through a high level of political, social, commercial and industrial coordination." This is, according to Mahoney, what has propelled China's modernization and its emergence as a technology power, as a world leader in technology production but likewise the world's most advanced technological society.
Warwick Powell, adjunct Professor at Queensland University of Technology and Senior Fellow at Taihe Institute, believes that as China's economy is growing faster than the collective West's economy and its technical base is advancing coupled with its rising educational standards across its population, it is catching up rapidly and in some areas, overtaking some of the nations of the collective West.
He also thinks that China is doubtlessly rising, when one compares its current state of economic capability and standard of living to what was the case in the recent past. It's also rising relative to its position vis-a-vis the collective West. This doesn't mean that the West is declining in absolute terms, but the collective West is slowing down and others are catching up.
He further points out that China has demonstrated a competency and capacity to diagnose its challenges and address them. So it's not a question of being pessimistic or optimistic, it's a question of confidence in the probability of success. And the probability that China will successfully navigate the challenges of the next decade or two is high.
Address of this article:http://kuwait.barryexit.org/html-17e499898.html
Very good!(792)
Related articles
- The Los Angeles Rams will hold their training camp at Loyola Marymount University this summer
- Biden administration weighing measures to help Palestinians bring family from region
- Police stop knife attack in central Oslo after man stabs 1 person and threatens others
- Tom Cruise, 61, is 'flattered' at being on 38
- Stanford, UCLA to meet for NCAA title in women's golf
- Campaign to raise Missouri's minimum wage to $15 an hour confident it will get on the ballot
- How well do you know the Kentucky Derby? Try the AP quiz
- Montana man gets 2 1/2 years in prison for leaving threatening voicemails for Senator Jon Tester
- Vermont governor vetoes bill to restrict pesticide that is toxic to bees, saying it's anti
- Election 2024: Trump returns to campaign facing jail warning
Popular articles
Recommended
Buxton homers twice, Ryan works 7 scoreless innings as Twins end 7
Selena Gomez reveals why she quit Instagram for four years
Russia proposes UN resolution on banning weapons in space, after vetoing similar UN
Election 2024: Trump returns to campaign facing jail warning
German author Jenny Erpenbeck wins International Booker Prize for tale of tangled love affair
Tom Cruise, 61, is 'flattered' at being on 38
Union Pacific undermined regulators' efforts to assess safety, US agency says
Panthers head back to work, resting and waiting for Bruins
Links
- Michael Jordan weeps during grand opening of his third clinic with his mom in North Carolina
- China's central bank adds liquidity via reverse repos
- Displaced Lebanese seek alternative livelihood amidst prolonged border tension
- Reds' TJ Friedl placed on injured list with fractured left thumb
- Meghan Markle's wardrobe during three
- US energy panel approves rule to expand transmission of renewable power
- Cubs place reliever Adbert Alzolay on injured list with right forearm strain and recall José Cuas
- 'Kingdom of the Planet of the Apes' reigns at the box...
- Mets' Senga says he needs more time before beginning rehab stint
- Ukrainian schoolchildren head underground in bomb