Taking a look at modern China

China is going through a period of massive change and it is a major actor in the world markets. With its rapidly growing economy, China is the world’s most populous country with 1.3 billion people. Ever since China opened up its economy in 1978, it has had an average GDP growth of nine percent per year. Over time, China simply keeps changing and as Ambassador Huang Xilian said during the 13th Manila Forum for Philippines-China relations and annual Christmas media party at the Shangri-La Hotel Makati on Dec. 11, Wednesday evening, China never stops moving forward and the “New China” is “Your China.”

China’s strong growth can be seen in the approaches it has taken on investment and export-oriented manufacturing. In terms of poverty reduction, China has managed to lift 800 million people out of it. While there are challenges moving forward, China remains determined to find new drivers for growth through evolving perspectives on sustainable development.

China’s growing economy is a very important source of global demand and innovation is now its new engine of growth. Significantly increasing its capacity for research and development, China has emerged as a major driver for global innovation, considering that some regions are lagging behind due to insufficient budgets or lack of infrastructure that affect productivity and competitiveness in the ever-changing market economy.

Modern China understands that overall development potential is key despite the challenges. With measures such as technology transfer, skills and talent training, as well as adequate financial assistance, the international community can play a key part in helping under-developed economies achieve innovation capability and contribute experiences and skills to promote balanced development among regions.

Following a comprehensive policy to promote key growth, in 2024 China has been seen as the biggest driver of global growth for a number of years and has in fact contributed over one quarter to it. According to a 2021 article published by the Harvard Business Review, the question that was then put on the table was why leaders in the west often get China so wrong due to false assumptions on modern China. In fact, it was stated that many Chinese believed that their continuing progress and achievements are due to the strengthened views of their leaders on economic reform without having to liberalize politics. In other words, China has become an economic powerhouse, a global leader in technology innovation despite tightening its authoritarian system of government while reinforcing its belief that liberalization does not apply to China.

What most of us need to understand is that China – and perhaps it is because of their historical record on dynasties – will think long term, simply because it is just in their nature to proceed by thinking ahead. Perhaps at one point, and as the good Ambassador Huang explained, China may have been identified for poor quality of products. However, it is no longer the case today as, by putting premium on more value-added goods based on a simple perspective of making lives better that continues to be the basis of their hope as Chinese people so that nobody is left behind.

There is an ancient belief in China, as Ambassador Huang explained at the Manila Forum, which says where there is harmony within society there is peace among all states. In the same sense, a wise man and dear friend, Carlos Chan of Liwayway Marketing Corporation, once told me that if only everyone listened to the words of Confucius, there would be peace and harmony in the world. Clearly, I must say I agree as, after all, who does not want to live in peace and harmony, more so prosperity?

Sticking to the right path of peace and development entails a genuine commitment made by all and China remains to be committed to this very same vision of peace, harmony and unity in the region where they start no wars nor occupy other lands, as history has proven them to be true to this promise. Addressing differences through dialogue remains to be China’s commitment in promoting peace and stability in the world and, for them, seeing is believing, especially because we are neighbors.

We need to see China with our own eyes, especially when there are those who have been force-fed by wrong propaganda about the Chinese people and the Chinese government. Our thoughts and experiences are shaped by our own storyline – a task that media has a responsibility to fulfill in order to tell the story of China well.

In the past few years, China has been the Philippines’ valuable partner for bilateral investments, including sectors that are crucial for trade and development, not to mention the area of tourism. China and the Philippines are natural partners and there are so many advantages waiting to be tapped by our two countries. Opening ourselves to new perspectives helps us see the world in new ways and enables us to become better people for it.

Perspective also helps us stay on the path of peaceful development and continue to mutually pursue a beneficial strategy that works for everyone. Such a pursuit has been the thrust of the Association for Philippines-China Understanding as well for the last 50 years. Our shared heritage is essential for our future success and together, we can build a better one by telling each other’s story well.