Among the countries that have successfully transitioned from poverty to prosperity, one conspicuous factor that has consistently worked for them is political stability, paired with having the right leaders at the highest levels of government.
Take China, for example: almost 75 years ago, it was a poor nation reliant on foreign aid. However, today, the Chinese people have shaped their own history and set a powerful example for many developing countries around the world.
Although the world’s second-largest economy is still classified as a developing country, the determination and resilience of its people have demonstrated that no situation is permanent.
For a nation to progress economically and in terms of development, as China has, there must be political stability and leadership focused on transformation. This instills hope among citizens and confidence in both local and foreign investors.
Unfortunately, many African countries have suffered under power-hungry leaders who prioritise personal wealth accumulation over the welfare of their citizens, sometimes imposing authoritarian regimes.
Several countries in the Sahel and Central Africa have experienced coups that have had devastating effects on their economies, despite being rich in minerals and other natural resources.
Political instability and self-serving leadership in these nations have led to the exploitation of natural resources, often fueling conflict and benefiting external forces at the expense of local populations.
In unstable countries, businesses close, foreign investors leave and the economy suffers. An unpredictable political environment creates uncertainty and despite the best economic policies, little can be achieved without stability.
Despite global challenges and pressure from some Western countries, the Chinese people have continued to seize opportunities arising from their nation’s economic growth.
China’s meteoric rise has alarmed many nations, prompting geopolitical tensions and attempts to undermine Beijing. Since 1949, the leadership of the Communist Party of China has held the country together and provided consistent direction for its economic growth.
This governance, characterised by Chinese-specific approaches, has charted the country’s development path. China’s rise on the global stage is driven by effective governance, underpinned by a capable and efficient government that has made credible commitments and shown resilience in pursuing high-level development.
The CPC’s leadership sets policy and government officials at all levels implement it. Although the Covid-19 pandemic temporarily slowed China’s economic growth, Beijing is once again experiencing an economic recovery, thanks to the measures introduced by the country’s top leadership.
During crises, effective leadership is critical to ensuring decisions benefit the people. Since the founding of the People’s Republic of China 75 years ago, China has transformed from a poor, backward nation into the world’s second-largest economy, achieving many milestones along the way.
It is remarkable that countries whose GDPs were once 20-30 times larger than China’s are now reliant on Beijing in various areas.
None of this would have been possible if China had been ruled by wealth-hungry or power-hungry politicians.
The CPC’s decision to focus on high-quality development that is innovation-driven, environmentally sustainable and increasingly open has allowed China to continue offering new growth opportunities to the world.
In 2023, China’s GDP stood at $18 trillion, compared to $9.7 billion in 1952, showcasing the economic miracle made possible by the country’s political stability, which has inspired citizens to work hard in support of the government’s and the party’s goals.
Some critics allege that the CPC is a dictatorial party lacking transparency, but this argument does not hold up. If the Chinese people are content with their party and governance system, external forces should not be concerned.
The Chinese have chosen what works for them without following in the footsteps of their former oppressors, as no one has a monopoly on governance.
Neocolonialism in Africa has hindered the continent’s economic growth, leading to discrimination on the global stage and systemic rigging in global financial systems—issues that President William Ruto of Kenya has advocated addressing.
These challenges persist in African countries because many have chosen to follow in the footsteps of their colonisers, compounded by the greed of certain leaders.
Since the launch of its reform and opening-up policy in 1978, China has experienced decades of rapid economic growth.
Alongside its economic development, China has prioritised education, an outward-oriented development strategy, substantial infrastructure investment, macroeconomic stability and policies aligned with its comparative advantages.
These efforts have
helped lift around 800 million Chinese citizens out of extreme poverty.
