The beginning of a new history

• Source: Global Times
• [02:32 November 05 2009]
• Comments

Just before the Berlin Wall fell 20 years ago, Francis Fukuyama made the stunning conclusion that Western liberalism is the final form of human governance, representing the ultimate conclusion of the history of ideological evolution.

But history is not so easily ended, as seen in the tug-of-war between liberal and conservative forces in many parts of the world.

The tide has been reversed in Russia and many Latin American countries.

In the past two decades, the so-called Chinese model has also shown vigor and become the real challenge to "the end of history" assumption.

During a period when the world has twice been hit by financial crisis, and with the ongoing one still unfolding, China has enjoyed growth with little interruption.

It is now the third-largest economy in the world, having lifted some 200 million people out of poverty and holding the biggest foreign exchange reserve of any country.

Twenty years is too short a time to judge the ultimate meaning of historical events or whether liberal capitalism or the Chinese model will prevail, but China has certainly come to a point where it has to figure out its own growth model moving forward. The various role models it has been following have demonstrated deep flaws. China must find its own way.

Meanwhile, China has to pay the price for its fast development, repairing its deteriorating environment, reducing the income gap between the rich and the poor, bringing better welfare to more citizens and furthering political restructuring.

Transitioning from an orphan of the world system to a major player, China has the world scratching its head and adjusting its view.