Instead of US-China decoupling, 2020 should bring acceptance of different development models
- The much-touted ‘end of history’ marked the emergence of a multipolar world in which a ‘one-size-fits-all’ approach to development will not work
- We must find ways to accommodate ‘developmental diversity’ while upholding the institutions that support international cooperation
To make a success of the coming decade, we must bridge these realities and find ways to accommodate different development models while boosting international cooperation through a mindset that seeks “harmony amid difference” in the course of globalisation and development.
Three decades ago, the end of the cold war led some to predict that all nations would eventually converge on the West’s particular brand of liberal democracy and free-market capitalism.
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These are just part of the emerging patchwork of regional initiatives, showing the demand for flexible trade architecture that fits all kinds of countries and development models.
Alongside multipolarisation, there has been an intellectual shift in how we understand development.
Decades of empirical evidence show that “cookie-cutter” formulas for development don’t deliver for the world’s poor. As Harvard economist Dani Rodrik notes, a development consensus has emerged that emphasises pragmatism and gradualism. Countries succeed by devising their own mix of remedies tailored to local constraints, not by following international dictates.
Multipolarity and the new development consensus show that we must learn to live with different answers to these questions, find ways to accommodate “developmental diversity” while upholding the institutions that support international cooperation. This kind of diversity doesn’t have to detract from closer integration. It can be an asset, not a threat.
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In nature, we value biodiversity as part of a healthy ecosystem. It represents the collective knowledge of how to thrive, gained by species evolving over millions of years. Similarly, different approaches to development reflect the experiences of societies around the world. And, unlike genetic traits, countries can freely borrow and adapt features from others to suit their own needs.
That China’s economy and governance system differ from that of Western countries does not have to lead to confrontation. Shared interests more than outweigh the differences that exist.
China’s model of development need not inspire fear in the US
Rather than focus on ideological or other differences, we should “seek truth from facts” and take an empirically-grounded view of China’s development. If China’s model works for the country and allows it to make major contributions to the global economy, then the rest of the world should learn to accommodate that.
And, as China continues to reform, it is not just markets that are opening, but also ways of thinking.
This approach of seeking “harmony amid diversity” and accommodating different points of view and ways of doing things has a long history in China. Over two millennia ago, Confucius taught that the noble are able to live in peace with those who have different ideas. As our complex, multipolar world enters the 2020s, this lesson continues to be as valuable as ever.
Wang Huiyao is the founder of the Centre for China and Globalisation, a Beijing-based non-governmental think tank