Socialism with Chinese characteristics drives economic growth
Dialogue with Yang Rui
The 19th Central Committee of the Communist Party of China concluded its fourth plenary session in Beijing on Thursday. High on the agenda during this session were the topics of upholding and improving the system of "socialism with Chinese characteristics," and "advancing the modernization of China's system and capacity for governance."
But what exactly is the concept of "the system of socialism with Chinese characteristics"?
Current affairs commentator Einar Tangen believes that the socialism with Chinese characteristics is a way of pragmatic socialism. He gave an example that China has fitted socialism to a thriving market economy, which has helped Chinese domestic economy grow by leaps and bounds.
In addition, Tangen stated that the system of socialism with Chinese characters provides methodology to China's party system in a bid to develop a more scientific and democratic mechanism.
In comparison with the political system in the U.S., Tangen mentioned that the Communist Party of China has a much heavier burden. He said the U.S. Democratic Party and Republican Party always have a safety hatch that they can blame the other side, or sit out for a while until the other side makes mistakes.
"China's government does not have that luxury," said Tangen. "If something is wrong, the party is responsible."
He Weiwen, a senior fellow at Chongyang Institute for Financial Studies, Renmin University of China, said this round of institutional reform of the Party and government is a huge step based on comprehensively deepening reform. In order to have a successful leadership in a large country like China, the soundness and the strong sense of discipline are very important for the ruling party.
"We have been quite successful in combating corruption, which is good, but not enough," He added. "We have to wipe out the root cause of corruption."
Michele Geraci, former Under-Secretary of State in the Italian Ministry of Economic Development, hailed China's great achievements on its poverty alleviation and its rapid economic growth. Although there are growing concerns with China's economic slowdown, Geraci considered it a shift in focus from high GDP to high quality GDP.
Speaking of Italy's decision to join China's Belt and Road Initiative, Geraci regarded the BRI as a great opportunity for the rest of the world. There is increasing debate about China's BRI in Europe, and he believed that the more discussions they have, the more people in Europe will understand China and the BRI.
Dialogue With Yang Rui is a prime time daily English talk show on CGTN. The 30-minute talk show covers a wide range of domestic and international topics, providing a balanced and critical perspective on current affairs and analysis within the framework of cross-cultural and multi-disciplinary comparisons.
Schedule: Monday-Sunday Time (GMT): 0330, 1130, 1930
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