Name: The rise of China
Uploaded: 2017-05-23T11:34:06.000Z
Duration: 12 min 24 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

-Richard Rigby: My name is Richard Rigby.

I'm executive director of ANU China Institute.

Spent a good deal at my life working in or on China.

And today we're extremely fortunate to have with us,

who is a very well-known commentator and more than a commentator

on matters Asian and on China in particular,

who's involved in the actual processes of reform

thank you very much  for agreeing to talk to us.

It's been wonderful to have you here at the ANU

for the second Crawford Australia Leadership Forum.

but also in the session we had this morning on China's domestic challenges.

And obviously throughout China that I I'd like to speak.

Now some of the speakers talked about Chinese leadership and other problems.

But you spoke in a particularly interesting way

on just what you see is happening in China now,

of the developments that we're witnessing.

And I wonder for the benefit of our viewers

you might be able to talk a little about this for me.

I think one needs to have the long lens of history to understand China.

Chinese bureaucracy is the oldest surviving human institution around.

It survives all the emperors, all the changes of regime,

foreign invasion, internal decay, et cetera.

you must remember that you're dealing with a very old

and adaptable institution is point number one.

The second point is that China complies with the law of large numbers.

and so by the law of large numbers one-fifth the world's problems exists in China.

And that's the point I was trying to make.

And it's not just that it's one-fifth of China's internal problems,

but China's success or failure would affect the rest the world

and the world's success or failure would affect China.

It's just over too big and we're all living on one planet earth.

The third point that I would like to make is that

because the whole world is going through very major transformative shifts,

geopolitics, the revival of the Cold War et cetera,

you know China is evolving at, with this,

For China to move from a hundred over place in GDP numbers

to number two economy in the world in 35, 36 years is unheard of,

I mean you even when,  you know, long-term history.

So this is the biggest transformation that we've seen.

And what has happened is that its success can only be explained

has been an institutional development, innovation,

and to be able to have policy  objectives and policy outcomes, right.

You know, it started with the formal modernization in 1979

And I think that's the process that we need to appreciate

that at the present moment the Chinese economy.

You know, in 30 years became the world's greatest factory.

It's the hub of the global supply chain, right.

But China is now moving from that old investment-based export-led model

innovation-driven and consumption-driven model.

four out the top global fifteen Internet platforms are Chinese.

And, you know, there's some names that become well-known

transcend more electronic e-tailing business than the United States

because their user base is somewhere between 400 to 600 million population,

So these transformations are changing China,

The very fact that the CCP is, allows, these entrepreneurs now

these businesses have created disruptions on state-owned enterprises.

You know, so the whole game is remarkable.

But it is a massive commitment towards market economy,

massive commitment to entrepreneurship and innovation,

Now, you know, whether you agree with that is another matter.

But that's essentially what the policy objectives are

-Richard Rigby: I think analytically,  you put your finger,

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The rise of China

massive

commitment

opportunity

debate