Why have bearish positions on the Chinese economy always proven to be wrong?
BEIJING: For some of the biggest names on Wall Street, China’s economic outlook “looks brighter than ever” and China is “too big to ignore,” The New York Times recently reported.
Indeed, understanding and correctly predicting the Chinese economy has always been a subject that the world pays great attention to.
During China’s economic take-off over the past decades, rumors of China’s collapse have barely been absent. However, the Chinese economy continues to grow and improve, and its development achievements have been unquestionably remarkable. Those who often spoke badly about the Chinese market were frequently slapped with reality.
Facts speak louder than words. China has its own way of developing its economy and has accumulated valuable experience over the years. If Western economic and political communities always try to read the Chinese economy without thinking outside the box, or abandoning their prejudices, the Chinese economy will continue to be a myth to them.
To effectively develop its economy, China has been able to remain consistent and adapt to changes.
As the world undergoes rarely seen transformations for a century and at the same time battles the Covid-19 pandemic, China has not only kept its macroeconomic policies stable, but has also prepared to build a new development model and to promote high-quality development. .
As a result, China was the only major global economy to post positive growth last year, and its economy grew 12.7% in the first half of this year. These achievements have demonstrated the strong resilience of the Chinese economy and have injected both confidence and momentum into the global economic recovery.
In addition, China has been willing to use political tools to advance reforms, stimulate innovation and boost new development dynamics.
China has continuously improved its capacity for scientific and technological innovation, optimized government services and stabilized industrial supply chains so that the real economy can be better served.
“China is focusing on its own work. It is not only a good choice, but also the source of strength for China to continue to resist the pressures,” commented an opinion piece published by Lianhe Zaobao, based. in Singapore earlier this year.
In this highly interconnected world, China believes that playing the “zero-sum game” is not in the best interests of the global community. Beijing has always been firmly committed to openness and cooperation, and has always tried to promote its own development by stimulating the common development of the world.
Despite the criticism of economic globalization, China, with an even stronger commitment to open up, has continued to join with others around the world to build an open global economy.
It implemented the Foreign Investment Law, further opened its financial sector in an orderly manner, and set up platforms such as the China International Import Expo and the China International Fair for Trade in Services to share its benefits with the whole world. development opportunities.
More importantly, the Belt and Road initiative is increasingly seen around the world as a path to prosperity, innovation, health and green development.
All over the world today, more and more people are beginning to deeply recognize that China’s vigorous economic development is of positive importance to the world economy, and it is unpopular to play on “decoupling” theories. “And the” Chinese threat “.
And as long as those in the West who are still obsessed with a bearish view of the future of the Chinese economy based on their old thinking and deeply ingrained ideological biases, they will be wrong time and time again.