[Global Focus] China Approaching the 100th Anniversary of the Communist Party Founding... Accelerating the Chinese Dream

Economic No. 2 + Most Disliked Country = China
Gap with G1 USA Narrows... Internal Issues Like Wealth Gap Persist

[Asia Economy Beijing=Special Correspondent Jo Young-shin] "China is not the same China as 100 years ago."

This is a meaningful phrase frequently appearing within China as US-China tensions intensify. It means that China is no longer the Qing Dynasty from 100 years ago, which was ignorant and weak in international affairs. Since starting the path of reform and opening up in 1979, China surpassed Japan in 2010 to become the world's second-largest economy. In just 30 years, it earned the title of one of the two major powers (G2). It is now even eyeing the position of G1 (the United States). If the current growth trend continues, it is widely expected that China will become G1 around 2028 to 2030. There is even a possibility that the socialist country China could seize global hegemony. This is why the Western camp, led by the US, is moving to check China.

On July 1st, the Chinese Communist Party (CCP), which governs China, will celebrate its 100th anniversary. Starting from Mao Zedong, the CCP laid the foundation of the country through leaders such as Deng Xiaoping, Jiang Zemin, and Hu Jintao, and President Xi Jinping is now pursuing the realization of the "Chinese Dream (Zhongguo Meng, 中國夢)."

◆The Birth of the Chinese Communist Party and Failed Modernization = The turning point that shattered the "center of the world (Sinocentrism)" was the Opium War. Through the Opium War, China painfully realized that it was nothing more than a frog in a well. But it was too late. Western powers such as Britain, France, Russia, and the United States flooded into China, and China had no choice but to kneel helplessly before them.

What hurt China's pride even more was the defeat in the Sino-Japanese War. China suffered a crushing defeat even against Japan, a mere island nation. China was humiliated by ceding the Liaodong Peninsula and Taiwan to Japan. The prestige of the great power literally fell to the ground. The Qing Dynasty eventually collapsed in 1912 with the outbreak of the Xinhai Revolution.

The Chinese Communist Party was founded on July 23, 1921, in the French Concession of Shanghai, revealing its socialist nature. At the founding congress, there were only 53 party members and 13 regional representatives in attendance. The CCP gained attention as the Chinese national liberation movement arose. The CCP fought against foreign invasions alongside Sun Yat-sen's Kuomintang through the First United Front. After Japan surrendered to the Allied forces including the US in 1945, the situation changed. A civil war broke out between the CCP and the Kuomintang over control of the mainland. Ultimately, the CCP secured control of the mainland and established the People's Republic of China in 1949. The CCP introduced socialist systems such as land reform and attempted industrialization but failed. The Cultural Revolution, a socialist movement led by Mao Zedong from 1966 to 1976, only brought great chaos and further economic devastation.

[Image source=Yonhap News]

◆The Foundation of Socialism with Chinese Characteristics: The Theory of Black Cat, White Cat = The figure who shaped China's economic framework was Deng Xiaoping. Holding power, Deng introduced reform and opening-up policies to the impoverished China. In 1979, he also established diplomatic relations with the United States. He chose a pragmatic approach over confrontation. The "Black Cat, White Cat" theory is representative of this. It means that whether a cat is black or white, as long as it catches mice well, it is a good cat. Regardless of communism or capitalism, if it can improve the lives of the Chinese people, anything is acceptable. This theory became the foundation of socialism with Chinese characteristics. The Shenzhen Special Economic Zone, which became the driving force of China's economy, was also his creation.

Afterward, China became the world's factory. The phrase "Made in China" originated during this time. Global companies built factories in China chasing cheap labor costs, and products manufactured locally were sold worldwide. After Deng Xiaoping, Jiang Zemin and Hu Jintao took power, and the Chinese economy grew steadily without major setbacks.

Following them, President Xi Jinping, who became General Secretary of the Party in 2012, painted a new picture of China. President Xi unveiled a blueprint for mega-projects like the Belt and Road Initiative (一帶一路), projects that had been unimaginable in the past 100 years. This blueprint embodies the Chinese leadership's dream of realizing Sinocentrism, i.e., the Chinese Dream.

[Image source=Yonhap News]

◆China's Challenges as the World's Second-Largest Economy and Most Disliked Country = Last year, China's Gross Domestic Product (GDP) was recorded at 101.5986 trillion yuan (approximately 1,729 trillion Korean won). It was the first time the GDP exceeded 100 trillion yuan. Despite the COVID-19 pandemic, it increased by a whopping 2.5121 trillion yuan compared to the previous year's 99.00865 trillion yuan. The gap with G1, the United States, has also narrowed, reaching about 73%. Experts predict that if the current trend continues, the G1 position could change as early as 2028 or by 2030 at the latest.

Despite being the world's second-largest economy, China is not receiving the respect commensurate with its economic size. The socialist political system is the biggest obstacle. Although the Chinese leadership emphasizes peace and multilateralism, many countries around the world do not take this at face value. A survey conducted last year by the US Pew Research Center was even more damaging. The survey, conducted in 14 advanced economies including the US, Canada, Germany, the UK, France, Sweden, Australia, Italy, South Korea, and Japan, showed that China's unfavorable rating reached 73.7% (median). There are calls for the Chinese leadership itself to make efforts to meet the standards of the liberal democratic camp (such as opening Xinjiang and Uyghur regions). The wealth gap, known as the "capitalism disease," is also a mountain to overcome and a source of instability for regime maintenance.

This content was produced with the assistance of AI translation services.