Rest of globe looks to China for growth and stability

The two sessions held over the past week in Beijing have unveiled China's renewed efforts on economic revitalization with a new Cabinet lineup, which is timely news that the world needs now, especially when many economies are looking toward China as a catalyst for economic growth and stability.

The annual meetings of the nation's top legislative and political advisory bodies are important not only for China, but also for Asia and the world.

That is why at the recent online Pandesal Forum about the two sessions, geopolitical experts Aaron Jed Rabena and Professor Anna Malindog-Uy, and I as moderator of the media and public issues forum, agreed that China's wise leadership and hardworking, entrepreneurial people can help sustain strong revival of global growth.

The world's second-largest economy is going to benefit neighbors in Asia as well as all other regions. A target of 5 percent growth for China's gross domestic product was put forth at the first session of the 14th National People's Congress. However, the momentum points to a higher rate.

Rabena and Malindog-Uy said countries like the Philippines can maximize the immense economic, trade, infrastructure, technological and other benefits from China's economic dynamism and its huge consumer market, if political leaders can ensure good and stable diplomacy with Beijing such as amicably handling disagreements with friendly dialogue.

The world is now confronting many dangerous uncertainties, such as the United States and NATO exacerbating the Ukraine-Russia conflict, and economic difficulties in the US and some major Western European countries. This has resulted in more people counting on China's political consolidation and economic revitalization for economic certainty.

The nearly 3,000 deputies of the National People's Congress epitomize China's whole-process people's democracy.

Unlike political systems espoused by some Western countries, China's consensus-style and grassroots-based consultative democracy is inspired by its ancient Confucian moral values and unique traditions, and it has worked efficiently in past decades to uplift the lives of the people.

At the two sessions, all socioeconomic sectors are represented in political consultative meetings, including every ethnic minority group, the island province of Taiwan and the Hong Kong and Macao special administrative regions.

Although the "two sessions" are political in nature, the discussions focus on economic issues and priorities.

In recent years, China has impressed the world with consistent socioeconomic achievements despite the COVID-19 pandemic, volatile global uncertainties and even unfortunate trade war policies by some countries. The Beijing government and Chinese people have been resolute and persevering in sustaining economic development and social stability.

Most noteworthy is China's epic feat of lifting about 100 million rural residents out of absolute poverty in the past eight years. All peoples of the developing Global South should gain inspiration and lessons from this triumph in antipoverty efforts and social justice.

Other admirable accomplishments of the Chinese government include helping to protect the environment with proactive green and ecological policies; pushing China's GDP to 121 trillion yuan ($17.5 trillion); and over 12.7 million new urban jobs created per year.

The two sessions demonstrate China's will and steps for technological innovation, making its economy globally competitive. China will also give high priority to education as well as research and development, expand the scope of Belt and Road infrastructure cooperation with other countries and follow cultural initiatives to revitalize and promote Chinese civilization and traditional Confucian moral values on harmony.

The author is moderator of the Pandesal Forum, a media and public issues forum, and a columnist for The Philippine Star.