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China's boom will continue

By Li Hong (chinadaily.com.cn)
Updated: 2007-04-30 15:06

China's economic boom is creating unprecedented opportunities for previously "static" economies like Latin America, Africa, Oceania, and elsewhere.

As China's manufacturing industry has progressed and matured, China's businessmen and entrepreneurs will be encouraged to invest in factories and plants in many foreign countries, creating jobs and improving the livelihood of the locals.

Many are predicting China's three-decade near double-digit GDP growth will end imminently. Although I am not an economist, I believe it won't stop, provided the "executive managers" fine-tune the furnace fire: never letting it get too hot and burn itself out, while ensuring a steady supply of fuel, be it wood, coal, oil or a high-tech future of hybrid energy or fuel cell technology.

China's industrialization and modernization will go the distance, probably another three to five decades. Urbanization will take even longer to fulfill. About half the residents in big cities, like Shanghai, Shenzhen and Beijing, are now better off and happy to be called "middle class"; others who are left behind in the hundreds of medium and small-sized cities are aspiring to catch up. And, the 250 million migrant farmer-turned-urban-workers are waiting for their turn. Do not forget, these people are really hard-working, full of aspirations, and they are the back bone of this nation.

I predict and hope China's rapid growth won't come to a close before 2040 or 2050. Why? Because China is truly a market-directed economy. We are elated the governing Communist Party of China has reneged and rejected dogmatic communism, which has been proved by history as catastrophic. No one will pick it up again!

Secondly, Chinese people's innate virtues, of industriousness, saving-money for their children, and self-discipline (can I say these are merits outstanding among other societies?), will continuously raise this country to new heights. These merits dictate China won't be lazy, won't embrace consumerism and indulge in extravagance, and our streets won't be a playground for criminals. On the contrary, China will insist in enlarging production, will have lots of money to invest at home and abroad, and will always remain harmless to anyone.

Thirdly, China keeps on learning from the world's successful experiences. China's politics is no longer static. The leadership no longer giving out orders for personal gain, and no punishment of dissenters is allowed. Thanks to greater openness of the Internet, one can read all kinds of complaints, grievances, and policy suggestions on the Web, which is truly a golden mine of ideas propelling China's growth.

It is the lao-bai-xing (ordinary people) who have requested the Central Government to pay heed to closing income divide, to curb official and business corruption, to expand education programs, to prevent environmental pollution, to ensure public security, to improve law and judicial justice, and also, to prevent lies and rumors from spreading in this country.

The above-mentioned market force, merits of the people, coupled with a progressing and maturing political mechanism lead to one answer: China's boom will continue.