China is stabilizing economy and strategy

Source:Global Times Published: 2019/4/17 21:13:41

China's first-quarter GDP rose by 6.4 percent, exceeding expectations. Analysts generally believe the Chinese economy is stabilizing, which is the epitome of China's strategy. The trade war and the all-round tough policies of the US against China last year were the biggest external impact China has been through since the 1990s. Some Chinese people are concerned about the consequences of the US-launched tariff war. Private domestic firms are struggling, leading some people to be confused about the nation's path. Is reform being carried out?

Chinese society has psychologically grown since 2018. The Chinese young generations didn't undergo serious conflicts between big countries like China and the US; they have been living in a smoothly developing country away from wars and economic hardships. It is normal for them to think that China-US ties won't be too good or too bad. 

Our experience in 2018 showed that China will meet new major risks as it rises. A good life isn't for certain.

In the past year, the Chinese people have had a new recognition of the world and ourselves. First, China is more resilient than we imaged. There is actual impetus for China to develop. We have endless demand and gradually established industrial capacity. In other words, China is advancing due to great domestic demand and is able to fulfill that need. Hence, China's development is not a giant bubble. Instead, its development cannot easily be knocked down by external impact.

Second, China's state system is made to serve the people's fundamental interests and has a strong desire and ability to adjust policies based on real problems. In contrast, certain state systems encourage extreme political games and unrealistic interactions between the government and the people, eroding the decision-making process.

Third, China has accumulated considerable strength. We have focused on development and never stirred things up. Any force undermining our core interests will pay an unbearable price. Extremist forces with such ambitions won't win support in the long run. The challenges brought by them should be taken seriously, but must not be feared.

Fourth, every country has its own problems. Among all countries, China has taken the lead in problem-solving efficiency. The country's competitiveness and people's living standards have also greatly improved. After 2018, China's confidence has significantly been boosted facing the US. 

Domestically, the Party's and government's determination and actions to solve problems pragmatically have been seen. The people-centered policy is not a slogan, but a pivot leading China's correct path. 

A 6.4 percent growth is not the ceiling of the Chinese economy entering a new normal. Even by maintaining such a rate, China can create the largest real economic growth in the world in one year. China has efficiently achieved robust strategic adjustments with an orderly political situation under major domestic and international changes. 

The world is also re-recognizing China. This country is strong, determined, and capable of tackling great challenges and making incredible achievements. Other countries should never underestimate and coerce China.

Posted in: EDITORIAL

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