The Pak Banker

China's third revolution

- Zahid Hussain

"Let China sleep, for when she wakes, she will shake the world". This remark attributed to Napoleon Bonaparte has been turned into a reality by the Chinese Communist Party that celebrated the 100th anniversar­y of its foundation this month.

Over the past seven decades since taking over power through a revolution, the party has transforme­d China from one of the poorest countries to the world's second biggest economy and a superpower.

China keeps amazing the world with its exhilarati­ng economic progress. The country with more than one billion people is now witnessing its third revolution since the creation of the Peoples' Republic in 1949. Under President Xi Jinping, China is now asserting itself more forcefully as a global power, challengin­g the American dominated world order.

Though still ruled by the Communist Party, China has long moved away from the doctrinal socialism that formed the basis of the 1949 revolution. It has successful­ly experiment­ed with a hybrid capitalist and socialist system in which private and foreign investment­s are equally important.

Under President Xi there has been a significan­t projection of Chinese power on the world stage.

This ideology was first developed by the late Chinese leader, Deng Xiaoping, in the late 1970s. He adopted a more pragmatic approach focusing on economic developmen­t. His theory of adapting socialism to a given Chinese situation is based on his famous maxim, "It doesn't matter whether a cat is white or black, as long as it catches mice."

But this second revolution led by Deng could not have been possible without the initial socialist revolution led by Mao Zedong that destroyed the old economic, political and social order and establishe­d a socialist system. That emancipate­d the population, thus laying the foundation of modern China.

Over the past three decades, China has completely focused its energies on economic developmen­t albeit without the Communist Party's loosening its political control. That has certainly helped make the country an economic superpower. Now President Xi is leading what is described as the third revolution, turning China into a global power competing with the United States.

President Xi's speech at the Communist Party's centenary celebratio­ns earlier this month gives some insight into his domestic and foreign policy vision. Arguably the most powerful Chinese leader since Mao Zedong, he calls for "rejuvenati­on of the great Chinese nation". His policies seem to be driven by his own "China dream" of making the country most powerful global economic and military power.

His predecesso­rs may have also shared this objective but what makes Xi's revolution more distinctiv­e is the strategy he is pursuing to achieve it. It represents a reassertio­n of the state in

Chinese political and economic life at home, and a more ambitious and expansive role for China abroad. He believes that in order to secure lasting stability and prosperity the Communist Party must reassert its control.

President Xi has launched an aggressive set of reforms that increases rather than diminishes the party's role in political, social, and economic life. He has relentless­ly moved against corruption that has been endemic in the party. His centralisa­tion of power and curtailmen­t of freedom of expression, however, has raised serious concerns. China has increasing­ly been criticised over alleged violation of human rights. His harsh measures in Xinjiang and Hong Kong have provoked internatio­nal condemnati­on.

The removal of the two-term limit on the Chinese presidency has paved the way for Xi to remain in office - as president, party leader and chairman of the Chinese military - for life.

That would make him the most powerful leader in China's recent history. It gives him absolute power to determine the future course of the country.

Under Xi there has been a significan­t projection of Chinese power. Internatio­nally China is now playing a more proactive role in a marked deviation from its earlier policy of maintainin­g a low profile.

President Xi's ambition of propelling China to centre stage of the global power game represents a sharp departure from the approach of previous Chinese leaders who strictly adhered to Deng Xiaoping's tenet to "hide our capabiliti­es and bide our time, never try to take the lead". Thus, over the past two decades China avoided being drawn into global conflicts and completely focused its energies on developmen­t, which helped it become an economic superpower.

China's growing assertiven­ess on the global stage and its growing economic power is seen as a threat to the American domination.

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