China outlines its alternative economic model towards 2035

China has already drawn up its own growth plans until 2035. To date, the Asian power, which today closely disputes the position of the first global economy with the United States, aspires to consolidate a high-level socialist market economy, thereby They project to achieve a complete modernization of the country’s governance system and capabilities.

The culmination of the Third Plenary Session of the Communist Party of China (CPC), last July, shed light on the path that aims to build the country’s institutions to deepen the reform, which is what has opened China to world trade and places it as the most powerful nation in merchandise trade in the world, and one of the most technologically developed.

To consolidate its high-level socialist market economy, China will seek to foster a more equitable and vigorous market environment, as well as ensure that resource allocation is as optimal as possible. They will achieve this through maintaining the basic state policy of openness to the outside world and the impetus it gives to reform.

President Xi Jinping led the Third Plenary Session of the Communist Party of China. Photo Archive

As described by the Chinese Ambassador to Venezuela, Lan Hu, this strengthened push for the complete modernization of his country focuses on “6 key areas, such as democracy, the rule of law, culture, society, ecology and the media. life of the population.”

China has become an important player in stabilizing markets and reducing poverty. Having lifted 800 million people out of extreme poverty, this scourge has been significantly reduced on a global scale, and has made it possible for humanity to get a little closer to meeting the millennium goals.

In the words of Ambassador Lan, “China’s confidence and determination to advance national modernization through new comprehensive reforms will inject valuable security and positive energy into a world of turbulence and volatility.”

A beacon for the global economy

It is no secret that China has opted for the diversification and multiplication of its markets around the world. The country stands as the main economy in terms of manufacturing and is one of the technological pillars of the planet.

After the Third Plenary Session of the CCP, its conclusions and goals point out that China should rely on the advantages of its large markets, in order to improve its opening capacity through international cooperation, thereby seeking to elevate its model of opening the economy. to a new level.

But within the CCP they are aware that their goals will not be achieved in the estimated times if the states of political unrest that disturb world peace persist. To this end, China remains firm in the pursuit of an independent and peaceful foreign policy.

Thus, the Chinese government continues to offer the world its proposals for the establishment of a community with a shared future for mankind, the effectiveness of the Global Development Initiative, the Global Security Initiative and the Global Civilization Initiative.

This is China’s definitive commitment to an egalitarian and orderly multipolar world, to an economic globalization that benefits everyone, which will open the way to leading the reform of the world governance system, in open contrast to the globalizing and exploitative system. that has put the world on the brink of predation.

China and Latin America with open arms

In the last 10 years, China has multiplied the number of Free Trade Agreements signed with new partners, many of them have materialized in Latin America, such as in Costa Rica, Chile, Ecuador and Peru, and is in negotiations with Panama for the upcoming signing of this commercial agreement.

A strategic cooperation alliance called “A Todo Trio y Todo Tiempo” was signed with Venezuela in 2023. In the negotiation, 31 agreements were signed that promote the sectors of the economy, geology, technology transfer in the health sector, mining, habitat and housing, electric energy and telecommunications.

Presidents Maduro and Xi Jinping signed 31 agreements to strengthen their bilateral relations. Photo Archive

All of these actions are planned within Beijing’s policies to establish a business climate that aims at equality and mutual respect. In the words of the Chinese Ambassador to Venezuela, Lan Hu, this is explained as the creation of “a first-class marketed business environment, subject to the rule of law and internationalized, and this in protection, in accordance with the law, of the rights and interests of foreign investment.”

China will open much more to the world in aspects such as tourism, the projection of its culture and the reception of visitors. Thus, the system that facilitates the lives of foreigners after their entry will be perfected in terms of accommodation, medical care, payments and others. Likewise, the regimes and mechanisms that promote and guarantee foreign investments will be improved.

In all these programs, Latin America plays a fundamental role and will equally benefit from the investments of the Asian power, and the different agreements that have been signed between the parties. Real and equitable development opportunities are available to the countries of the world thanks to this global growth model.