The Financial Express

Capitalism is losing appeal to Chinese

Evaly and Fianancial Express Evaly and Fianancial Express
Capitalism is losing appeal to Chinese

As China has stood on a higher level of development, it is having a different way of dealing with, and understanding Western countries. It's fair to say the Chinese people now have the most profound and objective understanding of capitalism.

The US is representative of capitalism. Many Chinese used to adore the US. But with China and the US increasingly having interdependent interests, the Chinese people have begun to understand the US from a new perspective.

We find that the US, though powerful, has many problems and made many mistakes. The US House of Representatives is moving to impeach the president.

If it were long ago, many Chinese would have regarded it a good example of checks and balances. But now, more people believe the US is messing with itself again.

The two camps that support and oppose the impeachment fall along Democrat and Republican lines. US government shutdowns caused by ceaseless partisan squabbling in recent years have exposed the inefficiency of the American system.   

Documents disclosed by US media recently reveal that the US government has been deceiving the public about the war in Afghanistan. Although it realized the war had become unwinnable, it kept saying the US was making progress, extending the war to 18 years at a cost of $2 trillion and resulting in mass casualties, without bringing any benefits to the US. The US democratic system has failed to prevent the country from making such a blunder, but has made it quite difficult to fix.

The recklessness, impulse and irrationality of US policies are particularly shown in the country's dealings with China. The US has failed to base their policies on facts and has misjudged China. Many of its practices are not in line with US long-term interests.

Let's have a look at other capitalist countries around the world. India, whose situation was similar to that of China decades ago, has fallen behind China in development. A majority of the developing countries in the world have adopted a political system of capitalism, but only a few have achieved rapid development and good governance. Most have a lackluster performance, and some have even slipped into turmoil.

All these at least tell the Chinese that capitalism is not a panacea. The economic and social achievements of Western countries cannot prove the institutional advantages of capitalism. And many problems appearing in developed countries have reflected the capitalist system's institutional flaws. The image of the capitalist system now is the most complex, and it's constantly declining.

The Hong Kong unrest has taught the Chinese mainland society a "political lesson." In the originally prosperous Hong Kong society, huge systematic loopholes were lurking. As a result, the city is unable to withstand turmoil, and its rule of law has been ruined easily.

We are living in a highly ideological world. A political system is a basic structure developed by each country. But the competition between nations has highlighted the negation of each other's political systems as a means of struggle.

In the past few decades, China's high degree of opening-up has expanded into the ideological field. The country has been unswervingly following the path of socialism with Chinese characteristics while learning from the world.

Through opening-up, we have had a close look at capitalism in all its forms and have observed various problems. Meantime, the US and other Western countries have been out of touch with reality, blindly believing in the "end of history" and demonizing China politically.

What matters to a country most is perhaps its ability to reform. No country's governance system is perfect. With the changes of the times, continuous reform is the guarantee of a country's progress.

In terms of reform capacity, the Western capitalist countries, such as the US, are far from role models to the world.


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