China's new five year plan and the two centenary goals
- By Stephen Perry
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E-mail People's Daily, November 12, 2015
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Stephen Perry (File photo/People's Daily Online) |
The new five year plan for 2016-2020 has been revealed by President Xi in a quiet way . It is probably the most significant Plan of China’s 66 years as it will transform China finally from a feudal society into a modern economy. That process was started in 1949 and really accelerated from 1978.
Following a period of growing through low-cost exports and transforming the peasantry into a modern work force in manufacturing and the service industry, China is now ready to complete the last phases of change to a modern market economy led by the Party and the government.
From here to 2020 the order of the day is transition, building an industry and service economy that can be the basis for China in the first half of this century.
For China to compete and be modern it must be as innovative as other developed economies. China is setting the highest standards for becoming innovative.
China must overcome its poor environmental record and lead the world in innovation of climate change. China is in the unique global position of having to do this to meet its peoples reasonable requirements, and is able to do it because China’s Party and Government have been preparing seriously for over 10 years.
China needs to create wealth throughout the nation to take the per capita to $10,000 by 2020 but must also spread that wealth more fairly and continue the process of removing the poor from poverty and firmly establishing a new urban society across China.
At the same time China needs to develop a caring Welfare System that is appropriate to the needs of the people , but does not build dependency or excess. So it must be alert to the problems that have occurred in developed economies where their Welfare States have weighed the economy. China must be caring and lean.
All of this is to achieve the first centenary goal of 2021. Can China do it? It has achieved all its main targets since 1978, and that is by having realistic short, medium and long term goals.
China aims to be a modern socialist country by 2049 when the People's Republic of China marks its centennial, and that means this period of planned market economy will transform yet again in about 20 years towards the next centenary goal of 2049.
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