China, 70 years of the People’s Republic
Last week, China celebrated seven decades of Mao’s coming to power. And with that, the foundation of the People’s Republic of China.
President Xi Jinping, celebrated the rule of communism in the Asian country with hype. In addition to the largest military parade in the country’s history.
The celebrations, however, were full of contrasts. While on the one side, President Xi made a public display of the country’s power and praised China as an unstoppable power. On the other, there was chaos in the streets of Hong Kong. Leading to strong confrontations between police and protesters.
China an unstoppable or decaying power?
The People’s Republic of China entered its seventh decade, in the eyes of the world. Raising multiple and found questions about its future.
Today’s China is very different from the one founded by Mao. Major reforms, as well as a gradual incorporation to the world’s global trade flows. Have led to a major transformation of the country. Which is now the second largest economy in the world.
It’s great economic progress, huge population, technological advances, among other things. Make of China, for many, the evident global power of the coming future. However, China currently faces significant challenges. Which could definitely change how the country continues to develop, as well as its stake in the global arena.
About Hong Kong
The growing and progressively more violent protests in Hong Kong, represent a major political threat to the eastern country. They also put the world’s eyes on China’s Human Rights respect and authoritarianism. Two issues still controversial in the PRC.
But what do protesters demand in Hong Kong? Although,Hong Kong belongs to China since 1997. The former British colony has its own political, commercial, currency and cultural identity.
Thus, Hong Kong population has rights not yet known to mainland China’a population. However, new law reforms have raised an alert. As the inhabitants of Hong Kong fear that the central government it’s putting their prerogatives at risk. This fear has lead to a great number of protests across the city. Which have escalated and generated adverse reactions from the government of Xi Jinping.
Being Hong Kong a very important financial and commercial center. It is of great importance for the central government to find a solution to the conflict. Which for a government like China, with so little experience in the proper handling of social manifestations, will be difficult.
The economic slowdown
While China’s growth in recent decades has been exponential. Currently, the Asian country is growing at the lowest rate since the 90s.
Tensions and the commercial war with the United States, that seek to curb Chinese products and technology. Have begun to take their toll in Beijing. As well as other inner economic issues as the increase in pork prices for swine fever, for example.
This has caused for some countries, that were previously enthusiastic about the new silk route. To start questioning the long-term sustainability of their agreements with China.
The role of reforms
China, as a socialist country inserted in international trade. Represents an unfamiliar model for most of its potential business partners. Thus, its ability to remain an attractive option and as the preferred ally for the rest of the world. Will depend largely on the capacity of Chinese diplomacy and the country’s willingness to make reforms.
Reforms to facilitate its adaptation to prevailing business models or creating new and stronger ones. Plus, in addition to commercial issues. The country’s hability to generate a more sustainable development model. Considering, respect for human rights, the protection of the enviroment, plus the inequality among the country’s population. Will be of great importance, in order to project a greater solidity and confidence towards the outside.