CHINESE President Xi Jinping has laid out a far-reaching vision for a more prosperous nation and a dominating role for China in the world as the US President Donald Trump is working on a reverse way isolating his country from the world leadership role. In the domestic front he has promised greater fight against corruption and curbing out income inequality to uplift the living standard of the low-income people. He has also pledged effective steps to combat pollution seriously hurting public health and bringing down industrial overcapacity to cut waste and keep Chinese products competitive.
His pledge to create a modern socialist country tells many things about his new leadership which aims at taking out China to assert its greater presence in world economy and politics. As it appears his plan to make greater opening of the Chinese economy allowing more foreign investment no doubt reflects a new vision to make China to enter into a more competing role; which may slowly marginalize US economic interest in global scale. .
Indication suggests that the People Congress which sits once in every five year will reappoint Mr Xi to the post of the President and this is very important to make his one-belt one-road expansionist economic policy to connect China by road, rail and maritime transportation system with all of Asia, Africa and Europe. It shows his vision how to make China’s business presence and investment in big infrastructure projects everywhere and Mr Xi in his visit to Bangladesh last year accordingly pledged more than US$ 25 billion fund for investment for big economic development and expansion in all sectors of the economy. It will bring boost to greater socio-economic transformation and wealth creation to bring improvement to people’s standard of life.
Mr Xi believes expansion in a country’s economy will not only create more jobs and income for people, it will also create more demands for goods and services which the Chinese economy in turn can produce to expand its own industrial outputs and services. This is how his new economic policy looks forward to bring the economy of all countries of the region and beyond to become effectively linked to Chinese economy to make China the world leader in the soonest possible time.
The creation of BRICS – a new infrastructure development Bank and Asian Infrastructure Investment Bank (AIIB) fits to the Chinese vision to create the growing global space for China to dominate trade, investment and politics. These two institutions run parallel to World Bank and Asian Development Bank, set up with USA leadership and so far dominating the global economy.
Mr Xi’s plans to create a modern socialist China by 2035 with a strong socialist economic powerhouse may not be much difficult to achieve given his powerful vision and leadership to unite the nation and fight the evils. He is definitely going to change the face of China and make it great.
