China’s Economic Woes

Embed from Getty Images

How much should socialism really remodel itself in today’s China?

Economic uncertainty is a widespread concern for China despite the prevailing national sentiment that it should not be so because projections suggest there will be no slash in growth rates and targets will mostly be met. But this isn’t the full picture: the index fell 7percent at first and then another 15percent during the beginning of the year, and this, frankly speaking has been China’s worst economic performance when the economy is supposed to be in an excellent state as the new year settles itself into the summer. Most of the fear is not stemming from the idea that it will be so tough for the Far Eastern nation to become a stable income country but rather it is about a hesitation to warm to technocrats. Economic trouble around the world has made the start of this year the second worst after 1970 and China is not indifferent to it. This means that the popular image of the country back in the day of a Communist state on the rise is now changing hands with the growing debts, trouble in the labour market and a political system unable to grapple with market, as much as the national idea of Mao.

Speaking of national sentiments, the prevailing question about the uncertainty in economic understanding for Xi Jinping and his party, brings to the forefront of memory how hard China had it as early as 2009. Less babies were being born, which meant a dent in the working age group, and a growth in the elderly people diaspora, and the constant dread of having to accommodate looking after the old, for the young. This was alongside unemployment for graduates that just kept on peaking, unaffordable property prices, and an environmentally unfriendly attitude to industrialisation. The party, though, can proudly label itself as a socialist reformer, taught up at the heels of the collapse of the Soviet Union. The state in the past had a burdened welfare structure, it permitted NGOs to operate within its borders, business people dominated Chinese ranks and low-scale elections for posts within the party wasn’t such a strange thought.

There is half democracy, a totalitarian slant, manufacturing job cuts in store for blue-collar workers that can’t be looked upon as a positive occurrence, instead now but the Communist party doesn’t think along those lines when it abhors protest movements. The rural class and the middle class need to feel economically secure for the government to be looked upon favourably so the challenges keep on looking tougher for the inflexible model of socialism the Communist party likes to abide by. It is very similar to the regular spotting of Confucian traditions in dining interspersed with braised hog insides, because these dishes were once a part of Confucius’ family dining experience, in China. Cookery in this style is not about delicious roast duck as it is about following the political slant within the Communist party, but as a roast duck fan, myself, I wouldn’t find it sad at all to skip on tasting out the cooking of hog in a rather absurd primitive style.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s