Insights | I would give China an ‘A’ for its high-quality development: U.S. scholar
(ECNS) -- A U.S. expert has said that the Communist Party of China (CPC) has written China's success story over the last 75 years, which has created the greatest political, economic, and social changes in history.
The CPC has brought hundreds of millions of people into the middle class and developed world-class science and technology while eradicating extreme poverty, said Einar Tangen, a senior fellow with the Beijing-based Taihe Institute, in a recent interview with China News Network.
Tangen remarked that China's success has rattled nations who assumed that all countries and cultures should be homogenized in their image.
The 20th Central Committee of the Communist Party of China was held in Beijing from Monday to Thursday. As China transforms into a quality-driven economy, Tangen noted that new quality productive forces, which include developing new sustainable and profitable technology both in terms of basic and applied sciences, are the means to achieve high-quality development.
He further explained that China is leaping ahead of developed countries in key strategic industries and technology in solar, EV, Wind, 6G, and drone tech, all areas that have growing demand.
“All the examples above of Chinese industry leadership involve technological, manufacturing and logistical breakthroughs by Chinese companies. I would give China an A on the curve as it is clear they are way ahead of the pack,” he said.
Tangen believes the ongoing third plenary session will bring more policy certainty for businesses as it will set the course for China's further development. “Goals will be split in terms of priorities and timing but as usual include social as well as economic changes,” he said.
“Confidence will come through direction. For the government, the mechanism and values won't change, but policies will continue to evolve to keep China moving forward,” he concluded.