Tribute paid to seven decades of economic transformation of the country

Tourists take photos in the Bund district of Shanghai. [Photo by Wang Gang/For China Daily]

As the People’s Republic of China enters a new phase of development after celebrations marking the 72nd anniversary of its founding in October, Indian experts have hailed the huge changes they have witnessed in the world’s most populous nation.

Alka Acharya, a professor at the Center for East Asian Studies at Jawaharlal Nehru University’s School of International Studies, said the PRC had struggled in its early modernization attempts. It then “took the fast lane” after the reforms were introduced, with improved infrastructure paving the way for rapid growth.

The nation started its economic transformation with basic infrastructure, building many roads and bridges.

While Japan pioneered high-speed rail transport in the 1960s with trains traveling at over 250 kilometers per hour, and European nations followed suit in the 1980s and 1990s, China quickly took the lead in this sector after the introduction of its first high-speed line. in 2007.

BR Deepak, a professor at the Center for Chinese and South Asian Studies at Jawaharlal Nehru University, said that in 1991 there was no metro in Shanghai, but in the early 2000s a transformation total had occurred, with such services available in several cities across the country.

Also, businesses were booming and new manufacturing sectors had started to flourish, he said.

The Global Infrastructure Hub, a non-profit organization created by the Group of Twenty, or G20, to advance its infrastructure agenda, estimates total infrastructure investment in China to be $3.3 trillion. dollars from 2013 to 2018.

Additionally, in recent decades the nation has embraced greening, spending $15 billion a year to create new public parks.

According to the Ministry of Housing and Urban-Rural Development, the number of urban green spaces has increased fivefold since 2001.

Last year, Shanghai opened 55 new parks, bringing the city’s total to 406, and plans to build 600 more over the next five years.

According to the ministry, “The average Chinese city now rivals New York in terms of publicly accessible green space per person. The latest 14th five-year plan (2021-25) calls for the construction of 1,000 large parks across the country to encourage physical fitness.

David Mann, Chief Global Economist at Standard Chartered Bank, said: “Since the late 1970s we have witnessed what is by far the most impressive economic miracle of any economy in history.”

According to data released by the World Bank in 2019, China’s GDP has grown strongly since 1990.

Effective governance by the Communist Party of China is often credited with the nation’s rapid development and long-term social stability.

Swaran Singh, chairman of the Center for International Politics, Organization and Disarmament at Jawaharlal Nehru University, said after extensive national consultations, the Party, which has ruled the PRC since 1949, can implement its decisions with a minimal number of “institutional roadblocks”. .Singh visited China several times from 1999 to 2019.

Now, China’s next step in nation-building is to integrate domestic consumption with international markets and push forward the Belt and Road Initiative.

The author is a freelance journalist for China Daily.

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