China's rise has been entirely peaceful and based on its cooperation with other countries. This demonstrates the possibility of rapid economic development without exploiting other nations, avoiding wars, and pursuing peaceful growth.
This approach is vital because even as China transitions to a high-income economy within the next two to three years, approximately two-thirds of the world's population will still reside in developing economies. Elevating these regions out of development status into high-income standings remains a pressing global challenge.
China plays a crucial role in this transformation for two main reasons. First, as the largest developing economy, it serves as a locomotive not only for the global economy but particularly for countries in the Global South. Second, China's successful development provides valuable lessons through its substantial investments in research and development (R&D), infrastructure, and leadership in emerging industries and quality productive forces. These are the benchmarks that other nations aspire to achieve.
Currently, China stands as one of the most advanced among developing countries and is on the verge of transitioning to a high-income economy. In doing so, it sets a path that the rest of the Global South and other developing nations can follow, serving as both a material and theoretical inspiration for their development strategies.
The world is undergoing one of the most significant transitions in its history: the shift to green energy. This transformation rivals the early 20th-century shift from coal to electricity and oil. Today, renewable energy is taking center stage, with China at the forefront as the world's leader in green energy production. This leadership not only positions China's economy to integrate differently with other global economies but also underscores its pivotal role in driving sustainable economic practices worldwide.
Reference(s):
China a material and theoretical inspiration for developing nations
cgtn.com
