The new PBS documentary “China: Power and Prosperity” looks at the country’s ascent to becoming an economic superpower. The film digs into the country’s proposed Belt and Road Initiative, which aims to build infrastructure and strengthen trade relationships across Eurasia. It explores China’s impact on Africa, where it is investing billions of dollars in projects. Critics say the Belt and Road Initiative is a way for China to extend its influence around the globe. Supporters outline that it will lift millions out of poverty. The documentary features interviews with politicians, businessmen, and academics from around the world. China has its strengths as an economic power, as well as the challenges it faces moving forward; some of them include a growing income inequality gap and environmental pollution. Conversely, the different theories that can promote China’s success are the export-led growth model, the authoritarian regime, and the culture of hard work. China’s rise to economic superpower is threatened by challenges such as environmental pollution and income inequity; therefore, hard work culture, authoritarian regime, and export-led growth model theories should be employed.
China’s power and prosperity are clearly on the rise, as demonstrated by its recent economic expansion. However, some argue that this newfound power is a threat to global stability. While it is true that China’s increased influence must be managed carefully, it is also important to recognize that China is not seeking to upset the current international order (Zhao, 2017). Instead, China’s goal is to achieve relative greatness within that framework, something that should be encouraged, not feared. In the past decade, its economy has grown at an astonishing rate, becoming the second largest in the world. And its economic influence is only expected to grow in the years ahead.
There are a number of indicators that show how powerful China’s economy has become. First of all, its GDP growth has been consistently strong, more than ten percent per year for the past few years (Zhao, 2017). This has allowed it to close the gap with developed economies such as the United States and Japan. Secondly, China now plays a key role in global trade (Ikenberry, 2008). China has been one of the most active countries in the world when it comes to global trade. As a result, its economy has grown exponentially in size and strength. The documentary takes a closer look at China’s journey from an isolated country to one of the most powerful economies in the world. The film explores how China’s participation in global trade has led to its current position as an economic superpower.
Some of the key factors that have contributed to China’s success in trade include its large population, its ability to manufacture goods at a low cost, and its willingness to invest in new infrastructure projects. China has benefited from membership in various global organizations, such as the World Trade Organization. Prior to China’s entry into the WTO, its economy was largely isolated from the rest of the world (Ikenberry, 2008). However, China’s accession to the WTO in 2001 gave it greater access to global markets and allowed it to begin integrating into the global economy. The WTO has helped to liberalize trade and investment, reduce trade barriers, and ensure a rules-based global trading system. In addition, foreign investment has poured into China, boosting its economy, and transforming it into a manufacturing powerhouse (PBS NewsHour, 00:23:39). As a result, Chinese exports have grown rapidly, and the country has become one of the world’s leading exporters
Aside from the obvious threat to public health, environmental pollution presents a significant barrier to China’s economic progress. One of the biggest culprits is the country’s dependence on coal-fired power plants, which release harmful toxins into the atmosphere (Zhao, 2017). The Chinese government has been a strong promoter of electric vehicles and has offered several incentives to encourage their adoption, including subsidies, tax breaks, and the installation of charging infrastructure. The growth of the electric vehicle market in China has helped to drive down the cost of batteries and components, making electric vehicles more affordable. In addition, the growth of the green economy has led to an increase in demand for renewable energy sources such as solar and wind power (Zhao, 2017). This increased demand for renewable energy has helped to reduce the cost of these technologies, making them more competitive with traditional sources of energy.
Income inequality has been on the rise in China over the past few decades. While the country has experienced remarkable economic growth during this period, the benefits have not been evenly distributed. The growing income gap between rich and poor has had a number of negative impacts on China’s economy (Zhao, 2017). For one, it has led to increasing social tensions and unrest. As more and more people see others around them becoming wealthier while they remain stuck in poverty, there is a greater risk of violent conflict erupting.
Hard work culture theory can play an important role in solving income inequality in China. By emphasizing the importance of hard work, this theory encourages individuals to strive for personal excellence and achievement. As a result, everyone has a greater chance of achieving success and earning a good income. This can help close the gap between rich and poor and ultimately lead to a more egalitarian society (Zhao, 2017). It is true that hard work culture theory is not the only solution to income inequality in China. Other measures, such as increasing social welfare spending or introducing progressive taxation, can also help reduce inequality. Through focusing on promoting hard work and meritocracy, this theory can be an important part of the fight against poverty and unfairness in China.
Conversely, the export-led growth model theory can help solve income inequality in china by encouraging exports and improving trade relations. This will spur economic growth and development, which will in turn, lead to more opportunities for Chinese citizens to improve their quality of life (Zhao, 2017). Additionally, the export-led growth model theory can help create jobs and reduce poverty levels, both of which will help alleviate some of the pressure food insecurity creates. Authoritarian regimes theory can help to solve the environmental pollution issue in China. For example, by introducing electric vehicles, the autocratic regime can cut down on emissions and improve the overall air quality (Zhao, 2017). This is just one solution that can be implemented; there are many others that could also be explored to help improve the environment in China. Additionally, the government could invest in renewable energy sources like solar and wind power, which would also help to combat climate change and improve air quality.
In conclusion, China has been rising to become an economic superpower. Some of the few challenges that China needs to work on to achieve economic supremacy include environmental pollution and income inequality. However, authoritarian regimes, hard work culture, and export-led growth model theories can be applied to solve these challenges. Theory of hard work culture and export-led growth model can be used to resolve the income inequality, while the authoritarian regime is much more effective in solving environmental pollution issues.
References
Ikenberry, G. J. (2008). The rise of China and the future of the West-Can the liberal system survive. Foreign Aff., 87, 23-37.
PBS NewsHour Presents. (2020). China: Power and prosperity [Video].
Zhao, S. (2017). Whither the China model: Revisiting the debate. Journal of Contemporary China, 26(103), 1-17.