China’s journey to modernization is offering a new perspective for developing countries around the world. By carving out a unique path tailored to its national realities, China has achieved rapid economic growth and social stability over the past few decades.
Since the reform and opening-up policies initiated in 1978, China has maintained an impressive average annual growth rate of 8.9 percent, far exceeding the global average of 3 percent. This remarkable progress has transformed China from a nation struggling to produce basic industrial goods to the world’s largest manufacturer for consecutive years.
Technological innovation and massive investments in infrastructure have been pivotal in driving China’s transformation. The country now boasts the world’s largest high-speed railway and expressway networks, alongside significant advancements in aviation, ports, energy facilities, and information infrastructure.
Despite global economic challenges, China’s economy has remained resilient. Employment has stayed stable, with millions of new urban jobs created each year. People’s livelihoods have improved, with increases in per-capita disposable income and expanded social insurance coverage.
China’s modernization has also significantly contributed to global poverty reduction. Over the past 40 years, more than 70 percent of the world’s poverty reduction has occurred in China. The nation achieved the poverty reduction target of the UN 2030 Agenda for Sustainable Development a decade ahead of schedule, reshaping the global poverty map.
China’s approach demonstrates that there is no one-size-fits-all model for achieving modernization. Its success offers new perspectives and possibilities for other developing countries seeking their own paths to progress.
Reference(s):
cgtn.com
