Socialism

Whether China can prove naysayers wrong and keep up its good national fortunes depends on solving old problems associated with restarting the mechanisms of the Soviet Union model, and tackling new problems arising from successful development.

Today, China faces almost the same set of problems that the capitalist states are struggling with. In a post-capitalist world where an entire demographic degenerate into the “useless class”, capitalism will lose the market on which it depends. EAI senior research fellow Lance Gore imagines what this could mean for the Chinese Communist Party and other advocates of the socialist path.

Capitalist and socialist societies are faced with the same universal conflict between power and self-interest on the one hand, and fairness and justice on the other. As socialism seeks to reclaim the “better angels of our nature”, as mentioned by former US President Abraham Lincoln, the contemporary mass society that results may be a worthy alternative to a democratic system on the point of collapse. But can China achieve this goal?

Jack Ma’s recent return to China has made waves and offers some hope for the revival of the entrepreneur class in China. But this group of people have never shaken off their dual identity as entrepreneur-capitalists. With the rise of a group of diehards romanticising the glory of past eras, entrepreneurs, and in turn the development of China’s market economy, face obstacles.

Despite the CCP’s efforts at arriving at new answers with socialism with Chinese characteristics, fundamental issues since Deng Xiaoping’s time and new issues of this era have not been solved. Maybe it is time to recognise that ideology for party governance may not be the best fit for national governance, says EAI senior research fellow Lance Gore. Instead, what is more effective could be constant innovation and seeking common understanding with the people in adherence with common human values.

Population decline can actually bring multiple dividends, contrary to popular belief, says East Asian Institute senior research fellow Lance Gore. Instead of looking for solutions to economic crises and population decline that are capitalist in nature and do not address the root causes, this is an opportunity to explore how socialism in China can deliver solutions that turn crisis into opportunity.

Lance Gore explains why navigating China’s “new era” requires out-of-the-box thinking on managing the knowledge economy, such as redefining employment and value beyond the capitalist labour market, and managing the uneven distribution of creativity and innovation. Moreover, the country needs to be wary of a reversion to large-scale centralisation of power and rule by the voice of one.

EAI senior research fellow Lance Gore explains why the sudden reversal of globalisation, constant turbulence due to global developments and the fragmentation of international relations are some very real coordinates of China’s "new era". In response, apt and concrete policies along the socialism axis can be devised to meet the challenges.

East Asian Institute senior research fellow Lance Gore observes that “Xi Jinping Thought” is really Leninism of the 21st century, or an amalgam of dictums that bear the risk of stifling social vitality and creativity. Not only that, a high concentration of power is a strength but also a weakness if cadres are afraid of deviating from the views of “the great leader”.