In: Economics
The legitimacy of the Chinese government and its
economic growth
Based on international standard both China and Singapore are
considered as in authoritarian regime, simply saying individual
freedoms are subordinate to the state, and there is no
constitutional accountability. However, both of them achieved the
economic success world-widely speaking. Singapore economy is one of
the most stable in the world, with no foreign debt, high government
revenue and a consistently positive surplus. China on the other
hand, had become second largest economy in the world and was
enjoying a very high growth rate of economy, but steadily growth of
economy up until 2010 when it started slowed down after.
Question:
A) Why would a slowing growth economy be considered as a threat to
the legitimacy of the Chinese Communist Party? (200-300
words)
B) Why did Chinese Communist Party look to Singapore for
inspiration of ruling and developing economy? (200-300
words)
China is the country with authoritarian regime as separate unit authorises and settles the issues relating to politics.As there is no constitutional accountability,the decisions relating to all the sectors are made by the state itself and there is no much involvement of national level authorities.Chinese Communist Party is the leading and ruling political party in China.
A.)Initially the economy of China was quite good and it was growing considerably.But due to decrease in capital,lack of resources,low production ,losses ,etc lead to unemployment,low sales,low profits and had declined GDP.As China is considered as authoritarian regime with no constitutional accountability, Chinese Communist Party had to take loans as individual freedom and responsibilities are given to subordinate to the state.Even after taking loans GDP did not rise as per expectations.There was a slow growth and economy was at recovering stage.If this continues then there will be worst impact on per capita income,GDP,etc.And Chinese Communist Party is will be held responsible as the authoritarian regime was started by this party itself.It was this party who took Singapore as inspiration and opinionated that there will be no involvement of central government in the issues relating to state.So it will be a threat to the Chinese Communist Party as it need to pay the loans taken in recovering the economic units.It even need to give explanation for introducing authoritarian regime and for legitimacy.
B.)Singapore has found it best way to deal as authoritarian regime with its states.If authoritarian regime has been introduced ,then the state government would rule individually and keenly look into requirements,issues of the people of that particular state.The needs,areas ,sectors which are to be developed are analysed and get the state into a better position.This would fulfil the requirements of industrial sectors by supplying enough technology,resources,low trade barriers;provide employment opportunities by introducing manufacturing units;good education and health facilities,etc would develop a state.This in turn would increase the country's GDP,economic growth and overall development rate.Chinese Communist Party was inspired by Singapore and gave a thought of following its ruling system.
Hence this is how Chinese Communist Party got inspired and now there is a threat to the legitimacy of the party itself.