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China's Unique Development Combines Socialism with a Market Economy System: Kual Ayom Biar Majok

2018-03-05 10:54:00 Source:China Today Author:
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 Kual Ayom Biar Majok, Ministry of Trade and Industry, South Sudan

"China’s reform and opening-up policy, which started in 1978, has become more effective. The success of reform and opening-up has transformed China from a low-income country to one of the world’s largest economies today. In my view, the success of China’s development lies in the country greatly reducing the number of people living in poverty. According to the World Bank, hundreds of millions of Chinese people have been lifted out of extreme poverty. China is now one of the most powerful countries in the world politically, economically, and socially. China has contributed to the stability and balance of global economic development.

"China’s development is unique. It is not based on Western developmental theories and experience, but on China’s own culture, political system, and its people. China has successfully transformed its economy from initially focusing on agriculture to now more on modern industrial and service sectors. Nowadays, China’s technology and manufacturing products can be found in every corner of the world. The Chinese government encourages opening up to the outside world and making technology innovation the driving force of economic development. China is also an advocate for world peace and stability, which is especially important to developing countries. China’s leadership encourages win-win cooperation in economy and trade, which has attracted more developing countries to trust and collaborate with China.

"China’s unique development combines socialism with a market economy system. Many countries in the world, either developed or developing, usually adopt one system to achieve economic growth. Only China has combined the two systems and made tremendous achievements.

"China’s economic development has set an example for developing countries in the world. The Belt and Road Initiative can promote infrastructure projects in less-known areas and regions. President Xi’s proposal of “adhering to the path of peaceful development and building a community with a shared future for humankind” is a great vision which can help China cooperate with more countries in the world and achieve prosperity in a win-win way."

 

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