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In a recent discussion sparked by China’s annual Central Economic Work Conference, former Philippine President Gloria Macapagal Arroyo shared her insights on China's remarkable economic transformation.
Reflecting on her experiences since the pre-reform era of 1978, Arroyo described China’s growth as breathtaking. From the early days of the \"dragon economy\" in the 1980s to today, China has evolved not just as a global competitor, but as a partner in development.
Arroyo emphasized four key factors behind China’s success: a long-term vision, a strong will to implement that vision, the value placed on infrastructure, and the adoption of state-of-the-art technology. These elements have enabled China to become a major market, a donor, and a provider of capital and technology for developing countries.
Highlighting the future, Chinese President Xi Jinping outlined ambitious goals for 2035, aiming to enhance scientific and technological capabilities and achieve digital transformation. This new growth model is set against the backdrop of an increasingly complex global landscape.
For the Philippines, the relationship with China is more crucial than ever. Arroyo underscored the importance of cooperation in this new era, where scientific and technological innovation are key drivers of progress.
As Xi Jinping aptly put it at the APEC CEO summit, embracing the new scientific and technological revolution is essential for fostering a new economy and achieving sustainable growth.
China’s journey from a competitor to a vital capital donor offers valuable lessons in strategic vision and collaborative growth, setting the stage for a more interconnected and prosperous future for all.
