It started with thirty years ago, Chinese leader Deng Xiaoping made the bold switch from state-planned to market economy. The country's share of the global gross domestic product (GDP) has expanded to 6% from 1% in 1976. Its GDP per capita has also gone up to US$2,461 (S$3,622 ) from US$190 in the pre-reform days.
Key factors : Bold reforms, embracing globalisation, gradual implementation without upsetting stability. China's phenomenal success story lies in these 3 main ingredients. Cautious in implementing change, doing it one step at a time.
Cooperating and learning from the experience of other countries is another crucial factor. "The China-Singapore relationship is a classic example of win-win cooperation " - cited by Madam Zhang Xiaokang, ambassador to Singapore.
Further noted by our Singapore Minister Mentor, Mr Lee Kuan Yew, as reported in ST 17 Dec 2008, that success is not only about having the right people, but also the right system - one that is organised with a clearly defined chain of command. A government which runs throughout the country from the centre of power, from the capital, to the smallest village. With capable, competent people at every ladder to execute those plans, is the secret of China's success, and China got the right people into the right jobs and it's organised.
How would you assess China's current role in the world and your hopes of the future China to
be ? Drop us your comments.
