The China model is the best bet for developing countries

Success cases are emerging around the world where the model is creating jobs and prosperity at home

The China model is the best bet for developing countries

The “China model” concept began taking hold after Beijing recorded impressive economic growth after 30 years of opening-up and reform policies started in 1978.

While the model often takes on different meanings depending on who you talk to, it remains a benchmark by which to measure against the so-called "Western model".

However, the two models are rooted in fundamentally different development goals, making comparing the two irrelevant.

China's success story and the steps taken to achieve this have been driven by one fundamental goal: to improve the lives of Chinese citizens.

On the other hand, the West's approach is to influence the political leanings of developing countries through foreign aid packages.

China's model starkly contrasts this approach as it doesn't aim to establish dominance over other countries it interacts with.

Lessons in pragmatism

Developing countries can learn much from the pragmatism of the China model, which prioritises economic empowerment over political allegiance.

For example, according to China's Ministry of Commerce, through investments from China’s SOEs and private companies and the overall BRI framework, China-Africa trade has exceeded $2tn in the past decade.

Developing countries can learn much from the China model's pragamatism, which prioritises economic empowerment over political allegiance.

China has always been Africa's largest trading partner.

Its factories have transformed the local rubber industry in Côte d'Ivoire and the deep-sea anchovy industry in Kenya, providing locals with a stable and affordable shipping/export channel and incentivising more African youth to stay in their hometowns by providing sustainable income opportunities.

China remains committed to benefiting the common good by establishing frameworks like the Global Development Initiative while continuing pragmatic bilateral and multilateral partnerships with under-developed and developing governments.

Best bet for prosperity

The lasting effects of COVID-19 and geopolitical turbulence will continue to impact regional and global development. The definition of the "China model" will remain incomplete and even biased until all can look at it objectively.

However, the China model remains the best bet for under-developed and developing countries to overcome these challenges. The people who benefited from the China model will ultimately tell the stories.

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