China’s economic success given ample plugging in new exhibition, while glancing over problems

China’s economic transformation that built the foundation for its growing assertiveness on the world stage has been showcased in a carefully curated exhibition in the capital Beijing.

The show at the Beijing Exhibition Centre, curated by several government agencies, charts the evolution, placing careful emphasis on the country’s socialist roots and the importance of the party in ushering in reforms that have helped it become a powerhouse in manufacturing, science and technology, diplomacy and military matters.

Inevitably, the exhibits focus on positive aspects of China’s economic progress, outlining the many firsts for the country such as setting up the Shanghai Stock Exchange in 1990 and amassing the world’s largest pool of foreign reserves in 2012, a record it still has today.

In contrast, it glosses over the consequences of Mao Zedong’s Great Leap Forward policy, which was intended to boost economic output but led to social and economic disaster, and China’s public debt problems emanating from a 4 trillion yuan (US$570.8 billion) spending spree to prop up growth following the Global Financial Crisis in 2008.

An exhibit titled “Successfully Responding to Global Financial Crisis” commends the government's “sound judgment and decisive policy” – including implementing a series of important measures – that led to economic stabilisation and rebound in China, which in turn “greatly” contributed to the recovery of the global economy.