{"id":185141,"date":"2017-12-04T13:58:15","date_gmt":"2017-12-04T08:28:15","guid":{"rendered":"https:\/\/www.colombotelegraph.com\/?p=185141"},"modified":"2017-12-07T22:18:13","modified_gmt":"2017-12-07T16:48:13","slug":"balancing-between-free-market-social-justice-lessons-from-china","status":"publish","type":"post","link":"https:\/\/www.colombotelegraph.com\/index.php\/balancing-between-free-market-social-justice-lessons-from-china\/","title":{"rendered":"Balancing Between Free Market & Social Justice: Lessons From China\u00a0 \u00a0"},"content":{"rendered":"

By Laksiri Fernando<\/a> –<\/span><\/strong><\/p>\n

\"\"<\/a>

Dr. Laksiri Fernando<\/p><\/div>\n

Without superficially imitating other countries, drawing lessons from any country would be useful for a developing country like Sri Lanka given the common nature of many challenges that developing or transforming countries are faced with. It is not only because of the ancient historical links, dating back to Fa Hein\u2019s visit to the island in the 5<\/span>th<\/sup><\/span> century AD, that China<\/a> is important to Sri Lanka<\/a>, in this endeavour, but also because of the contemporary commonalities or more precisely, China\u2019s unequivocal support to the country\u2019s development. <\/span><\/p>\n

The purpose of this article however is not so much to talk about those commonalities or the support given, but to draw possible policy lessons from China for a particular challenge that Sri Lanka is facing at present. That is about how to balance between the \u2018free market policies\u2019 and the \u2018objectives of social justice,\u2019 not to speak of socialism. It is not only from the Belt and Road Initiative (BRI) that Sri Lanka should benefit, but also from China\u2019s exemplary development experience. <\/span><\/p>\n

Background\u00a0<\/b><\/span><\/p>\n

China and Sri Lanka are two developing countries that opened up their economies under the new free market and globalization trends in late 1970s. China was a socialist country and Sri Lanka was a quasi-welfare state, although in its constitution it became characterized as \u2018socialist\u2019 in 1978. Both countries apparently realized that without developing the productive forces (capital, entrepreneurship, labour, technology, land etc.), the economies cannot be developed or socialism could not be built. The latter was a basic premise of original Marxism and also contemporarily advocated by the social democracy movements. <\/span><\/p>\n

In order to develop the underdeveloped economies, market mechanisms are of paramount importance whether you do it under the guidance of the state (socialist and\/or nationalist) or without it (neo-liberal orthodoxy). China selected the first model as a socialist country and Sri Lanka had been quite ambiguous on the matter, and has faltered in many respects even during 1994 and 2005 (open economy with a human face).\u00a0<\/span><\/p>\n

Since 1980s, China has developed immensely, also admittedly creating internal contradictions, but Sri Lanka could not achieve much progress although the initial growth was commendable (1978-82). Of course China\u2019s success or Sri Lanka\u2019s \u2018failure\u2019 cannot purely be explained in terms of state policies. China is a resource rich big country with a hardworking people and long standing entrepreneur skills, compared to Sri Lanka. Sri Lanka also faced a protracted civil war between 1983 and 2009 and the wounds are still not healed. Sri Lanka did achieve a significant progress after the war (2010-2013), primarily through one-sided state intervention and infrastructure development, but – apart from top politicians eating into the benefits – it was mainly on the basis of immense external debt. This was not at all the case in China. <\/span><\/p>\n

A Revolution Betrayed? <\/b><\/span><\/p>\n

When a major governmental change was achieved in 2015, dubbed as a \u2018revolution\u2019 by some, the expectation was not only political, but also economic and social. That was the meaning of the movement led by Ven. Maduluwawe Sobitha, the National Movement for Just Society (NMJS), supported by various organizations and radical trade unionists. That was also the reason, I believe, why certain sections of the Left supported the government, unless they have themselves become \u2018neo-liberal.\u2019 <\/span><\/p>\n

Although there was a misplaced cry for a \u2018single issue\u2019 for the abolition of the executive presidency, \u2018social justice\u2019 in all respects was the people\u2019s expectation judging by the election issues and results between January and August 2015. Because, under the overall free market policies since 1978, the gap between the \u2018rich\u2019 and the \u2018poor\u2019 as well as the \u2018urban and the \u2018rural\u2019 has considerably widened. Under a parallel form of \u2018state capitalism,\u2019 side by side with the free market, the politicians had themselves become rich and \u2018capitalists\u2019 without serving the people and addressing the needs of their economic upliftment. Therefore, the people directly and indirectly expected a radical policy change after 2015. <\/span><\/p>\n

When the government initially declared a policy of a \u2018social market economy,\u2019 although it was well below the expectations, it nevertheless was considered a progress because it ostensibly emphasized the \u2018social\u2019 aspect. Similarly, when a national unity government was formed between the UNP and the SLFP, it was also a welcome initiative because the people and the observers expected the best of both parties\/polices for the betterment of the people and the country.\u00a0 <\/span>However, the Vision 2025 or the Budget 2018 does not fulfil these expectations. Instead of social market polices, both are tilting towards \u2018neo-liberalism\u2019 equally in words and deeds. This is why a course correction is necessary for the government or the unity between the SLFP and the UNP. <\/span><\/p>\n

Economic Visions<\/b><\/span><\/p>\n

Since the workers and peasants revolution in 1949, China has always been modest and down to earth, whatever the mistakes or adventures it has made in the course of its development. The present Chinese President, Xi Jinping, himself was a victim of the \u2018cultural revolution,\u2019 but he has not made a big issue out of it for the sake of personal glory or confrontational politics. This modesty or realism is also characteristic of their future economic vision\/s. <\/span><\/p>\n

Deng Xiaoping was the key figure who opened up the Chinese economy in 1978 to the world, but he never held a key state position other than within the party or consultative councils. But he and others of the second generation of leaders ensured that they \u2018walk the talk\u2019 or their vision, dedicated to the country\u2019s and people\u2019s development. As a result of this pragmatic opening up, the country has managed to uplift hundreds of millions out of poverty other than making China a vibrant economy, the second largest in the world today. He is also the initial author of the concept \u2018socialism with Chinese characteristics.\u2019 They never gave up the socialist principles.\u00a0 \u00a0<\/span><\/span><\/p>\n

The subsequent two leaders, Jiang Zemin (1993-2002) and Hu Jintao (2002-2012), were the same. They served as Presidents of the country, but never exceeded two terms. Jiang Zemin was particularly instrumental in broadening the democratic base of the country, other than strengthening the economy. Hu Jintao while initiating new moves to equalize the Chinese society, extended assistance to other developing countries particularly in Africa and Asia. After his two terms, he resigned from all official positions at the age of 70, except remaining in the party.\u00a0 \u00a0<\/span><\/span><\/p>\n

By a happy coincidence, Sri Lanka\u2019s Vision 2025, coincides with China\u2019s Vision 2025 that the current President, Xi Jinping, has unveiled. However, Sri Lanka\u2019s vision suddenly wants to become \u2018rich\u2019 and \u2018prosperous\u2019 by 2025, whether the actions of the government would match the vision or not. The Chinese vision is to build a \u2018moderately prosperous society.\u2019 More importantly, it emphasizes that it would be in \u2018all respects\u2019 to mean balanced and equitable prosperity. It is in this context that Xi Jinping\u2019s Report to the Communist Party congress on 18 October 2017 is important for our scrutiny. <\/span><\/p>\n

Chinese Vision\/Action Plan <\/b><\/span><\/p>\n

What Xi Jinping has unveiled is rather an action plan than just a vision. This is something lacking in Sri Lanka with so many, rather contradictory, policy statements. Even the Budget 2018, appears more of a policy statement than a financial blueprint except in announcing \u2018extensive liberalization\u2019 rather than a pragmatic policy on liberalization or free market policies. <\/span><\/p>\n

It is undoubtedly a difficult task to keep a balance between \u2018free market\u2019 polices and \u2018social justice\u2019 even for China. That is why a critical assessment of the past five years (2012-2017) had preceded Xi Jinping\u2019s \u2018vision and plan\u2019 for the immediate and foreseeable future in the Report. It was also heartening to note, in his speech, whenever he was saying the \u2018Chinese people\u2019 he has almost always added \u2018of all ethnic groups.\u2019 <\/span><\/p>\n

During that 13<\/span>th<\/sup><\/span> Five Year Plan (2013-2017), the GDP has grown from 54 trillion to 80 trillion yuan. That is not a mean achievement. China has promoted supply-side structural reforms, giving priority to infrastructure development and agricultural modernization. Regional development has become more balanced. Our Financed Minister could have learned more by reading Xi Jinping\u2019s Report than solely depending on \u2018neo-liberal\u2019 policy advisors in formulating his \u2018Budget\u2019 to Sri Lanka! Xi Jinping has outlined the advances in the digital economy and progress in the science and technology. <\/span><\/p>\n

China has not at all given up \u2018economic globalization,\u2019 \u2018open economy\u2019 or \u2018market modernization.\u2019 The following is what it says about the role of the market. <\/span><\/p>\n

\u201cWe must see that the market plays the decisive role in resource allocation, the government plays its role better, and new industrialization, IT application, urbanization, and agricultural modernization go hand in hand. We must actively participate in and promote economic globalization, develop an open economy of higher standards, and continue to increase China\u2019s economic power and composite strength<\/i>.\u201d<\/span><\/p>\n

It should however be noted that what it says, at present, is \u2018economic globalization.\u2019 It says, \u2018the market plays a decisive role in resource allocation and facilitates the role of the government better.\u2019 All other aspects necessary for economic development, \u2018new industrialization,\u2019 \u2018IT application,\u2019 \u2018urbanization,\u2019 and most importantly \u2018agricultural modernization\u2019 go hand in hand, according to the statement. But this holistic approach is conspicuously absent in many of the Sri Lanka\u2019s policy statements or budgets. <\/span><\/p>\n

Public Private Partnership<\/b><\/span><\/p>\n

In the case of Sri Lanka, what is promoted is a single engine growth, everything assigned to the \u2018private sector.\u2019 This is not the case in the economically growing China. Also in Sri Lanka, the \u2018private sector\u2019 is understood in a very narrow sense. Apart from the private sector being still underdeveloped or limited, it is also understood or treated within a close circle of \u2018family, school friends or party cohorts.\u2019 <\/span><\/p>\n

The private sector in rural areas are called \u2018Mudalalis\u2019 in a derogatory sense. This narrow perception is also one reason why \u2018foreign\u2019 companies are always preferred to local ones. It is not a pragmatic policy of inviting FDI, but mostly a cultural policy in despising always the \u2018local\u2019 or the \u2018national.\u2019 Obviously, there is the other extreme of \u2018patriotism\u2019 in narrow thinking, even rejecting weather reports from overseas! \u00a0 \u00a0<\/span><\/span><\/p>\n

The following is what Xi Jinping\u2019s Report states about the \u2018PPP.\u2019 <\/span><\/p>\n

\u201cThere must be no irresolution about working to consolidate and develop the public sector; and there must be no irresolution about working to encourage, support, and guide the development of the non-public sector.<\/i>\u201d <\/span><\/p>\n

This is about a determination to develop both engines, the public and the private, in order to develop the country. In the case of the public sector, it is about \u2018consolidating\u2019 and \u2018developing.\u2019 In the case of the private sector, which he termed as the \u2018non-public sector\u2019 to include the growing non-governmental organizations, it is about \u2018encouraging,\u2019 \u2018supporting,\u2019 and \u2018guiding.\u2019 <\/span><\/p>\n

China has not reversed its policy of further encouraging FDI or free trade with other countries in order to achieve both national as well as international objectives. The Report most often has used the term \u2018liberalization,\u2019 not in the \u2018neo-liberal\u2019 sense, but in a more progressive and a pragmatic sense. It is in the same perspective that China has launched its Belt and Road Initiative. <\/span><\/p>\n

People Centred Development <\/b><\/span><\/p>\n

Most importantly, China talks about a \u2018people centred development\u2019 incorporating environmental protection and social justice. This is partly because when an economy is opened up, and when the market is used in resource allocation, and also when the private sector is given equally a prominent place, there can emerge considerable imbalances, vast inequalities and regional unevenness. This is the same in Sri Lanka or in China. Therefore, the following is what the Report says in ameliorating the situation.\u00a0<\/span><\/p>\n

\u201cIt makes clear that the principal contradiction facing Chinese society in the new era is that between unbalanced and inadequate development and the people\u2019s ever-growing needs for a better life. We must therefore continue commitment to our people-centred philosophy of development, and work to promote well-rounded human development and common prosperity for everyone<\/i>.\u201d <\/span><\/p>\n

The main elements of this \u2018people-centred philosophy of development\u2019 are about (1) a \u2018well-rounded human development\u2019 and (2) \u2018common prosperity for everyone.\u2019 There are so many other social justice and welfare issues that the Report has covered. <\/span><\/p>\n

Conclusion<\/b><\/span><\/p>\n

China is considered a \u2018non-democratic\u2019 country, whether the characterization is completely correct or not. Sri Lanka is boastfully a democratic country; even \u2018sovereignty is in the people and is inalienable.\u2019 Therefore in principle, a democratic country should give more priority to \u2018people centred development\u2019 than a non-democratic country. <\/span><\/p>\n

If that is not the case, there should be a major contradiction or paradox that needs to be addressed and corrected through a joint and a painstaking (not delayed) effort. Why popularly elected governments cater only for a small rich class? Is it because of believing in the \u2018trickledown\u2019 effect? For how long that the poor people have to wait for the \u2018trickles\u2019 to come down? <\/span><\/p>\n

No one should say, down with the capitalists (danapathiya bhangawewa<\/i>), like the old left cried. The role of the private sector should be appreciated and supported. However, the priority should be given to a \u2018people centred development.\u2019 Perhaps the national unity government of the two main parties (the UNP and the SLFP), with apparent different perspectives, might be best placed for resolving this predicament, through negotiations and compromises with the other progressive parties and sections within and outside parliament also playing a major role.\u00a0 \u00a0 \u00a0<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

[…]<\/p>\n","protected":false},"author":26,"featured_media":92325,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,46,8],"tags":[],"class_list":["post-185141","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-colombotelegraph","category-constitutional-reforms","category-editorial"],"yoast_head":"\nBalancing Between Free Market & Social Justice: Lessons From China\u00a0 \u00a0 - Colombo Telegraph<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.colombotelegraph.com\/index.php\/balancing-between-free-market-social-justice-lessons-from-china\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Balancing Between Free Market & Social Justice: Lessons From China\u00a0 \u00a0 - 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