The west is blind to the appeal of China's model of authoritarian capitalism

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content="China's economic rise is seen as incrementally undermining US global leadership."> <meta name="twitter:card" content="summary_large_image"/> <meta name="twitter:image" content="https://web.archive.org/web/20181023120304im_/https://amp.businessinsider.com/images/55ac53fe371d2210008b7a3f-2732-1366.jpg"> <meta name="twitter:site" content="@bi_contributors"> <link href="https://web.archive.org/web/20181023120304/https://amp.businessinsider.com/the-west-is-blind-to-the-appeal-of-chinas-model-of-authoritarian-capitalism-2015-7" rel="amphtml"> <meta property="fb:pages" content="20446254070"> <script type="application/ld+json"> {"@context":"https:\/\/web.archive.org\/web\/20181023120304\/http:\/\/schema.org","@type":"NewsArticle","mainEntityOfPage":{"@type":"WebPage","@id":"https:\/\/web.archive.org\/web\/20181023120304\/https:\/\/www.businessinsider.com\/the-west-is-blind-to-the-appeal-of-chinas-model-of-authoritarian-capitalism-2015-7"},"headline":"The West is blind to the appeal of China\u0027s model of authoritarian capitalism","thumbnailUrl":"https:\/\/web.archive.org\/web\/20181023120304\/https:\/\/amp.businessinsider.com\/images\/55ac53e4371d22a40e8b7802-320-240.jpg","image":{"@type":"ImageObject","url":"https:\/\/web.archive.org\/web\/20181023120304\/https:\/\/amp.businessinsider.com\/images\/55ac53fe371d2210008b7a3f-2732-1366.jpg","height":"","width":""},"datePublished":"2015-07-19EDT21:52:56-14400","dateModified":"2015-07-19EDT21:53:31-14400","dateCreated":"2015-07-19EDT21:51:16-14400","keywords":["China","Obama","Xi Jinping","South China Morning Post"],"author":{"@type":"Organization","name":"South China Morning Post"},"name":"The West is blind to the appeal of China\u0027s model of authoritarian capitalism","publisher":{"@type":"Organization","name":"BI","logo":{"@type":"ImageObject","url":"https:\/\/web.archive.org\/web\/20181023120304\/https:\/\/media.businessinsider.com\/public\/assets\/BI\/US\/logos\/amp\/BI_light_background_color_horizontal.png"}},"description":"China\u0027s economic rise is seen as incrementally undermining US global leadership.","articleBody":"Under President Xi Jinping , China is succeeding in creating an alternative vision for global leadership designed to challenge Western, and in particular American, dominance.\nMomentum is gathering behind the Asian Infrastructure Investment Bank, a US$100 billion initiative officially launched by China last month, in the face of US opposition, to finance Asia\u0027s infrastructure needs.\nIt is the first time the US is without a role in what will be a leading financial institution in the world.\nThe rise of the AIIB comes months after the British government became the first in the Western world to issue a sovereign bond in renminbi, reigniting the debate over whether the renminbi can eventually supplant the US dollar as the leading global reserve currency. And the extent of China\u0027s program to build artificial islands in disputed waters in the South China Sea has been revealed; the latest in a long series of assertive Chinese moves to counteract US influence in the region.\nMeanwhile, China\u0027s economic rise is seen as incrementally undermining US global leadership.\nThe message from China is clear: it is supremely confident in its own governance model and is committed to pursuing an alternative path of development to Western-led neo-liberalism.\nUntil now, the Chinese brand of authoritarian capitalism has remained largely unpersuasive to the majority, although it has gained traction in developing economies like Vietnam and Venezuela. But the West needs to recognize the growing appeal of the China model in the eyes of the developing world, especially as Western economies struggle to recover from the global financial crisis.\nWhen developing countries look to the West, they see growing disillusionment among its electorates, austerity and rising inequality. The West\u0027s uncertainty about its own future serves to magnify, even glorify, the Chinese success story for developing economies in Asia, Africa and Latin America. It will not come as a surprise if more turn to China for lessons in economic development.\nThe West has been painfully slow to react. Instead of using the financial crisis as an opportunity for reflection, and to identify those elements of its economic system that simply are not working, leading Western economies continue to promote neo-liberalism as the only way forward.\nThe consequence of inaction threatens the future of democracy. The West is losing the argument, while the China model, despite its widening wealth gap, human rights abuses and disregard for the democratic process, is gaining credibility. The developing world sees that a Chinese leadership, unbothered by the inconvenience of elections and true public accountability, can create a long-term economic plan and follow it through uninterrupted.\n\nWhile opening up its economy to the outside world, the government has retained a high level of control over strategic industries: energy, telecoms and banking, to name three. The developing world sees the fundamental advantage of this type of government intervention: business and trade can be used to bolster the regime and strengthen China\u0027s position in the international community.\nAs US journalist Joshua Kurlantzick notes, when China sees an investment opportunity overseas, it can compel its major banks to boost lending to Chinese companies operating in that area. \u0022In short, the China model sees commerce as a means to promote national interests,\u0022 he observes.\nBy contrast, a widening gap between the rich and poor is causing many to doubt the validity of the Western model. Many Westerners are increasingly insecure about their own values and the health and sustainability of their societies. And many Western governments are unwilling to accept that present levels of inequality harm, rather than promote, innovation and entrepreneurship.\nAt the very least, the West needs to acknowledge the huge damage that neo-liberalism has inflicted on democracy over the past 30 years. Many economists, not just on the far left, now indict the Reagan-Thatcher project of neo-liberalism for reversing the great postwar, baby-boom march towards equal opportunity.\nNeo-liberalism has become so pernicious that the accepted belief, promoted by advocates of free market fundamentalism, is that the West came to dominate the world because it embraced small government and privatization. In fact, economic historians Robert Allen and Michael Lind have demonstrated that unfree markets and big-government designs typified not only the East Asian path to industrialization, but also America\u0027s rise in the early 19th century.\nThey argue that wealthier countries started preaching to poorer countries about the need for free trade - that is, to reduce tariffs designed to protect nascent industries - and the need to reduce government size - that is, allow foreigners to buy up vital sectors of the economy - only after they themselves had completed industrialisation on the back of very protectionist measures.\nEqually dangerous is the myth perpetuated in the West that China has grown so rapidly because it has embraced the neo-liberal model. This is patently false.\nChina has succeeded, thus far, because it reformed on its own terms, picking and choosing elements of development models around East Asia - those of Japan, Singapore and Taiwan - and adapting them to its own context. The Chinese model is, in fact, intended as an antidote to Western neo-liberalism.\n\nSo what should the West do to counter the rise of the illiberal Chinese model? It must demonstrate some candor about its own developmental path - in the past and in the future - before it preaches to the developing world. It must invest more in education and in improving infrastructure to avoid being overtaken and left behind by China. It must swallow its pride and accept that it can learn some lessons from China in terms of long-term economic planning and market intervention. Narrowing the inequality gap in the West is essential so the China model does not gain further credibility on the back of purely economic success.\nAnd it must truly acknowledge the fragility of democracy itself in order to realize what is at stake here. As Israeli historian Irad Malkin noted: \u0022Democracy existed for about 200 years in the ancient world and has existed for about 200 years in the modern world, and other than that there has been no democracy in the whole of human history. Oligarchies have always existed.\u0022","articleSection":"Finance Contributors, Finance, Politics, International, Military & Defense"} </script> <script type="text/javascript"> //<![CDATA[ post = {"id":"55ac5414371d2279018b79ef","uri":"https:\/\/web.archive.org\/web\/20181023120304\/https:\/\/www.businessinsider.com\/the-west-is-blind-to-the-appeal-of-chinas-model-of-authoritarian-capitalism-2015-7","thumb":"https:\/\/web.archive.org\/web\/20181023120304\/https:\/\/amp.businessinsider.com\/images\/55ac53e4371d22a40e8b7802-320-240.jpg","author":{"@type":"Organization","name":"South China Morning Post"},"author_ids":"","post_type":"post"} //]]> </script> <script type="application/ld+json"> {"@context":"https:\/\/web.archive.org\/web\/20181023120304\/http:\/\/schema.org","@type":"Article","mainEntityOfPage":{"@type":"WebPage","@id":"https:\/\/web.archive.org\/web\/20181023120304\/https:\/\/www.businessinsider.com\/the-west-is-blind-to-the-appeal-of-chinas-model-of-authoritarian-capitalism-2015-7"},"headline":"The West is blind to the appeal of China\u0027s model of authoritarian capitalism","image":{"@type":"ImageObject","url":"https:\/\/web.archive.org\/web\/20181023120304\/https:\/\/amp.businessinsider.com\/images\/55ac53fe371d2210008b7a3f-2732-1366.jpg","height":"","width":""},"datePublished":"2015-07-19EDT21:52:56-14400","dateModified":"2015-07-19EDT21:53:31-14400","author":{"@type":"Organization","name":"South China Morning Post"},"name":"The West is blind to the appeal of China\u0027s model of authoritarian capitalism","publisher":{"@type":"Organization","name":"BI","logo":{"@type":"ImageObject","url":"https:\/\/web.archive.org\/web\/20181023120304\/https:\/\/media.businessinsider.com\/public\/assets\/BI\/US\/logos\/amp\/BI_light_background_color_horizontal.png"}},"description":"China\u0027s economic rise is seen as incrementally undermining US global leadership.","url":"https:\/\/web.archive.org\/web\/20181023120304\/https:\/\/www.businessinsider.com\/the-west-is-blind-to-the-appeal-of-chinas-model-of-authoritarian-capitalism-2015-7","articleBody":"Under President Xi Jinping , China is succeeding in creating an alternative vision for global leadership designed to challenge Western, and in particular American, dominance.\nMomentum is gathering behind the Asian Infrastructure Investment Bank, a US$100 billion initiative officially launched by China last month, in the face of US opposition, to finance Asia\u0027s infrastructure needs.\nIt is the first time the US is without a role in what will be a leading financial institution in the world.\nThe rise of the AIIB comes months after the British government became the first in the Western world to issue a sovereign bond in renminbi, reigniting the debate over whether the renminbi can eventually supplant the US dollar as the leading global reserve currency. And the extent of China\u0027s program to build artificial islands in disputed waters in the South China Sea has been revealed; the latest in a long series of assertive Chinese moves to counteract US influence in the region.\nMeanwhile, China\u0027s economic rise is seen as incrementally undermining US global leadership.\nThe message from China is clear: it is supremely confident in its own governance model and is committed to pursuing an alternative path of development to Western-led neo-liberalism.\nUntil now, the Chinese brand of authoritarian capitalism has remained largely unpersuasive to the majority, although it has gained traction in developing economies like Vietnam and Venezuela. But the West needs to recognize the growing appeal of the China model in the eyes of the developing world, especially as Western economies struggle to recover from the global financial crisis.\nWhen developing countries look to the West, they see growing disillusionment among its electorates, austerity and rising inequality. The West\u0027s uncertainty about its own future serves to magnify, even glorify, the Chinese success story for developing economies in Asia, Africa and Latin America. It will not come as a surprise if more turn to China for lessons in economic development.\nThe West has been painfully slow to react. Instead of using the financial crisis as an opportunity for reflection, and to identify those elements of its economic system that simply are not working, leading Western economies continue to promote neo-liberalism as the only way forward.\nThe consequence of inaction threatens the future of democracy. The West is losing the argument, while the China model, despite its widening wealth gap, human rights abuses and disregard for the democratic process, is gaining credibility. The developing world sees that a Chinese leadership, unbothered by the inconvenience of elections and true public accountability, can create a long-term economic plan and follow it through uninterrupted.\n\nWhile opening up its economy to the outside world, the government has retained a high level of control over strategic industries: energy, telecoms and banking, to name three. The developing world sees the fundamental advantage of this type of government intervention: business and trade can be used to bolster the regime and strengthen China\u0027s position in the international community.\nAs US journalist Joshua Kurlantzick notes, when China sees an investment opportunity overseas, it can compel its major banks to boost lending to Chinese companies operating in that area. \u0022In short, the China model sees commerce as a means to promote national interests,\u0022 he observes.\nBy contrast, a widening gap between the rich and poor is causing many to doubt the validity of the Western model. Many Westerners are increasingly insecure about their own values and the health and sustainability of their societies. And many Western governments are unwilling to accept that present levels of inequality harm, rather than promote, innovation and entrepreneurship.\nAt the very least, the West needs to acknowledge the huge damage that neo-liberalism has inflicted on democracy over the past 30 years. Many economists, not just on the far left, now indict the Reagan-Thatcher project of neo-liberalism for reversing the great postwar, baby-boom march towards equal opportunity.\nNeo-liberalism has become so pernicious that the accepted belief, promoted by advocates of free market fundamentalism, is that the West came to dominate the world because it embraced small government and privatization. In fact, economic historians Robert Allen and Michael Lind have demonstrated that unfree markets and big-government designs typified not only the East Asian path to industrialization, but also America\u0027s rise in the early 19th century.\nThey argue that wealthier countries started preaching to poorer countries about the need for free trade - that is, to reduce tariffs designed to protect nascent industries - and the need to reduce government size - that is, allow foreigners to buy up vital sectors of the economy - only after they themselves had completed industrialisation on the back of very protectionist measures.\nEqually dangerous is the myth perpetuated in the West that China has grown so rapidly because it has embraced the neo-liberal model. This is patently false.\nChina has succeeded, thus far, because it reformed on its own terms, picking and choosing elements of development models around East Asia - those of Japan, Singapore and Taiwan - and adapting them to its own context. The Chinese model is, in fact, intended as an antidote to Western neo-liberalism.\n\nSo what should the West do to counter the rise of the illiberal Chinese model? It must demonstrate some candor about its own developmental path - in the past and in the future - before it preaches to the developing world. It must invest more in education and in improving infrastructure to avoid being overtaken and left behind by China. It must swallow its pride and accept that it can learn some lessons from China in terms of long-term economic planning and market intervention. Narrowing the inequality gap in the West is essential so the China model does not gain further credibility on the back of purely economic success.\nAnd it must truly acknowledge the fragility of democracy itself in order to realize what is at stake here. As Israeli historian Irad Malkin noted: \u0022Democracy existed for about 200 years in the ancient world and has existed for about 200 years in the modern world, and other than that there has been no democracy in the whole of human history. Oligarchies have always existed.\u0022","articleSection":"Finance Contributors, Finance, Politics, International, Military & Defense"} </script> <script> /** * _performanceMark * Set performance.mark for ad timing. * @param markName {string} * @public */ function createPerformanceMark(markName) { if (performance.mark === undefined) { return; } performance.mark(markName); } /** * _performanceMeasure * Set performance.measure for ad timing. * @param measureName {string} * @param markStart {string} * @param markEnd {string} * @public */ function createPerformanceMeasure(measureName, markStart, markEnd) { if (performance.measure === undefined) { return; } performance.measure(measureName, markStart, markEnd); }; </script> <script> (function (win, doc) { 'use strict'; var criticalCss = 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<div class="ad md-leaderboard"> <div data-bi-ad id="ad-27942" class="ad ad-wrapper postload " data-force="" data-type="ad" data-adunit="business-insider/desktop/finance/clusterstock/post" data-pagetype="post" data-tag="china,obama,xi-jinping,south-china-morning-post" data-pos="atf" data-authors="" data-views="9331" data-region="Subnav" data-responsive="[{"browserLimit":[0,0],"slotSize":[[300,250]]},{"browserLimit":[728,0],"slotSize":[[728,90]]},{"browserLimit":[970,0],"slotSize":[[970,250],[970,90],[728,90]]},{"location":"window"}]" data-url="/web/20181023120304oe_/https://www.businessinsider.com/the-west-is-blind-to-the-appeal-of-chinas-model-of-authoritarian-capitalism-2015-7" data-amazontamsizes="[[300,250],[728,90],[970,250],[970,90]]"> </div> </div> </div> <section class="container"> <section class="row "> <div class="referrers-anchor" data-referrers-anchor></div> <section class="post-headline-wrapper"> <h1 class="post-headline ">The West is blind to the appeal of China's model of authoritarian capitalism</h1> </section> <section class="byline-wrapper col-12"> <div class="byline publication" data-e2e-name="byline"> <div class="byline-content" data-e2e-name="byline-content"> <div class="byline-row"> <div class="byline-image-wrapper" data-e2e-name="byline-image"> <a href="https://web.archive.org/web/20181023120304/http://www.scmp.com/frontpage/international" target="_blank"> <img class="byline-image" sizes="(min-width: 160px) 160px, 100vw" src="https://web.archive.org/web/20181023120304im_/https://static.businessinsider.com/image/540718bf6bb3f7be24fded2e-750.jpg" srcset="https://web.archive.org/web/20181023120304im_/https://amp.businessinsider.com/images/540718bf6bb3f7be24fded2e-160-160.jpg 160w, https://web.archive.org/web/20181023120304im_/https://amp.businessinsider.com/images/540718bf6bb3f7be24fded2e-320-240.jpg 320w, https://web.archive.org/web/20181023120304im_/https://amp.businessinsider.com/images/540718bf6bb3f7be24fded2e-480-240.jpg 480w, 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https://web.archive.org/web/20181023120304im_/https://amp.businessinsider.com/images/540718bf6bb3f7be24fded2e-2732-240.jpg 2732w"> </a> </div> <div> <div class="byline-author"><span data-e2e-name="Niv Horesh"><span class="byline-author-name" data-e2e-name="byline-author-name">Niv Horesh</span></span><span>, </span><div class="byline-publication-source" data-e2e-name="byline-publication-source"><a href="https://web.archive.org/web/20181023120304/http://www.scmp.com/frontpage/international" class="byline-link" target="_blank">South China Morning Post</a></div></div> <div class="byline-timestamp" data-timestamp="2015-07-20T01:52:56+0000" data-e2e-name="byline-timestamp">  Jul. 19, 2015, 9:52 PM </div> </div> </div> </div> </div> <section class="share-wrapper share-wrapper-top" data-share-top aria-label="Share This Post" data-e2e-name="share-wrapper-top" data-track-page-area="Post Top"> <div data-share-top-clip class="group-clip"> <div data-group-icons class="group-icons"> <a 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src="https://web.archive.org/web/20181023120304im_/https://amp.businessinsider.com/images/55ac532b371d2212008b7a4e-750-563.jpg" sizes="(min-width: 960px) and (max-width: 1259px) 640px, (min-width: 1260px) 960px, (-webkit-min-device-pixel-ratio: 2) 50vw, 100vw" srcset="https://web.archive.org/web/20181023120304im_/https://amp.businessinsider.com/images/55ac532b371d2212008b7a4e-160-120.jpg 160w, https://web.archive.org/web/20181023120304im_/https://amp.businessinsider.com/images/55ac532b371d2212008b7a4e-320-240.jpg 320w, https://web.archive.org/web/20181023120304im_/https://amp.businessinsider.com/images/55ac532b371d2212008b7a4e-480-360.jpg 480w, https://web.archive.org/web/20181023120304im_/https://amp.businessinsider.com/images/55ac532b371d2212008b7a4e-640-480.jpg 640w, https://web.archive.org/web/20181023120304im_/https://amp.businessinsider.com/images/55ac532b371d2212008b7a4e-750-563.jpg 750w, https://web.archive.org/web/20181023120304im_/https://amp.businessinsider.com/images/55ac532b371d2212008b7a4e-960-720.jpg 960w, https://web.archive.org/web/20181023120304im_/https://amp.businessinsider.com/images/55ac532b371d2212008b7a4e-1136-852.jpg 1136w, https://web.archive.org/web/20181023120304im_/https://amp.businessinsider.com/images/55ac532b371d2212008b7a4e-1334-1001.jpg 1334w, https://web.archive.org/web/20181023120304im_/https://amp.businessinsider.com/images/55ac532b371d2212008b7a4e-1536-1152.jpg 1536w, https://web.archive.org/web/20181023120304im_/https://amp.businessinsider.com/images/55ac532b371d2212008b7a4e-1920-1440.jpg 1920w" (min-width: 960px) and (max-width: 1259px) 640px, (min-width: 1260px) 960px, (-webkit-min-device-pixel-ratio: 2) 50vw, 100vw/><script>createPerformanceMark('first image displayed');</script><span class="image-source-caption story lead-image"><figcaption class="image-caption" data-e2e-name="image-caption">U.S. President Barack Obama (L) and Chinese President Xi Jinping shake hands at the end of their news conference in the Great Hall of the People in Beijing November 12, 2014.</figcaption><span class="image-source" data-e2e-name="image-source"> Reuters </span></span></figure>Under President Xi Jinping , China is succeeding in creating an alternative vision for global leadership designed to challenge Western, and in particular American, dominance. </p><p class=""> Momentum is gathering behind the Asian Infrastructure Investment Bank, a US$100 billion initiative officially launched by China last month, in the face of US opposition, to finance Asia's infrastructure needs. </p><p class=""> It is the first time the US is without a role in what will be a leading financial institution in the world. </p><p class=""> The rise of the AIIB comes months after the British government became the first in the Western world to issue a sovereign bond in renminbi, reigniting the debate over whether the renminbi can eventually supplant the US dollar as the leading global reserve currency. And the extent of China's program to build artificial islands in disputed waters in the South China Sea has been revealed; the latest in a long series of assertive Chinese moves to counteract US influence in the region. </p><p class=""> Meanwhile, China's economic rise is seen as incrementally undermining US global leadership. </p><p class=""> The message from China is clear: it is supremely confident in its own governance model and is committed to pursuing an alternative path of development to Western-led neo-liberalism. </p><p class=""> Until now, the Chinese brand of authoritarian capitalism has remained largely unpersuasive to the majority, although it has gained traction in developing economies like Vietnam and Venezuela. But the West needs to recognize the growing appeal of the China model in the eyes of the developing world, especially as Western economies struggle to recover from the global financial crisis. </p><div data-bi-ad id="ad-24490" class="ad ad-wrapper postload in-post" data-force="" data-type="ad" data-adunit="business-insider/desktop/finance/clusterstock/post" data-pagetype="post" data-tag="china,obama,xi-jinping,south-china-morning-post" data-pos="atf" data-authors="" data-views="" data-region="Desktop In Post Ad" data-responsive="[{"browserLimit":[0,0],"slotSize":[[300,250],"fluid"]},{"browserLimit":[600,0],"slotSize":[[300,250],"fluid"]},{"browserLimit":[1260,0],"slotSize":[[728,90],"fluid"]},{"location":"inline"}]" data-url="/web/20181023120304oe_/https://www.businessinsider.com/the-west-is-blind-to-the-appeal-of-chinas-model-of-authoritarian-capitalism-2015-7" data-amazontamsizes="[[300,250],[728,90]]"></div><p class=""> When developing countries look to the West, they see growing disillusionment among its electorates, austerity and rising inequality. The West's uncertainty about its own future serves to magnify, even glorify, the Chinese success story for developing economies in Asia, Africa and Latin America. It will not come as a surprise if more turn to China for lessons in economic development. </p><p class=""> The West has been painfully slow to react. Instead of using the financial crisis as an opportunity for reflection, and to identify those elements of its economic system that simply are not working, leading Western economies continue to promote neo-liberalism as the only way forward. </p><p class=""> The consequence of inaction threatens the future of democracy. The West is losing the argument, while the China model, despite its widening wealth gap, human rights abuses and disregard for the democratic process, is gaining credibility. The developing world sees that a Chinese leadership, unbothered by the inconvenience of elections and true public accountability, can create a long-term economic plan and follow it through uninterrupted. </p><p class=""><figure id="img-487777" class="figure image-figure-image postload" data-type="img" data-e2e-name="image-figure-image" data-media-container="image" style=""><postload-img data-src="https://amp.businessinsider.com/images/55a5c3856bb3f7b069a53fa2-750-313.jpg" data-sizes="(min-width: 960px) and (max-width: 1259px) 640px, (min-width: 1260px) 960px, (-webkit-min-device-pixel-ratio: 2) 50vw, 100vw" data-srcset="https://amp.businessinsider.com/images/55a5c3856bb3f7b069a53fa2-160-67.jpg 160w, https://amp.businessinsider.com/images/55a5c3856bb3f7b069a53fa2-320-133.jpg 320w, https://amp.businessinsider.com/images/55a5c3856bb3f7b069a53fa2-480-200.jpg 480w, https://amp.businessinsider.com/images/55a5c3856bb3f7b069a53fa2-640-267.jpg 640w, https://amp.businessinsider.com/images/55a5c3856bb3f7b069a53fa2-750-313.jpg 750w, https://amp.businessinsider.com/images/55a5c3856bb3f7b069a53fa2-960-400.jpg 960w, https://amp.businessinsider.com/images/55a5c3856bb3f7b069a53fa2-1136-474.jpg 1136w" data-alt="China dragon"></postload-img><span class="image-source-only "><span class="image-source" data-e2e-name="image-source"> Carl Court/Getty Images </span></span></figure></p><p class=""> While opening up its economy to the outside world, the government has retained a high level of control over strategic industries: energy, telecoms and banking, to name three. The developing world sees the fundamental advantage of this type of government intervention: business and trade can be used to bolster the regime and strengthen China's position in the international community. <div data-bi-ad id="ad-64859" class="ad ad-wrapper postload in-post" data-force="" data-type="ad" data-adunit="business-insider/desktop/finance/clusterstock/post" data-pagetype="post" data-tag="china,obama,xi-jinping,south-china-morning-post" data-pos="atf" data-authors="" data-views="" data-region="Desktop In Post Ad" data-responsive="[{"browserLimit":[0,0],"slotSize":[[300,250],"fluid"]},{"browserLimit":[600,0],"slotSize":[[300,250],"fluid"]},{"browserLimit":[1260,0],"slotSize":[[728,90],"fluid"]},{"location":"inline"}]" data-url="/web/20181023120304oe_/https://www.businessinsider.com/the-west-is-blind-to-the-appeal-of-chinas-model-of-authoritarian-capitalism-2015-7" data-amazontamsizes="[[300,250],[728,90]]"></div></p><p class=""> As US journalist Joshua Kurlantzick notes, when China sees an investment opportunity overseas, it can compel its major banks to boost lending to Chinese companies operating in that area. "In short, the China model sees commerce as a means to promote national interests," he observes. </p><p class=""> By contrast, a widening gap between the rich and poor is causing many to doubt the validity of the Western model. Many Westerners are increasingly insecure about their own values and the health and sustainability of their societies. And many Western governments are unwilling to accept that present levels of inequality harm, rather than promote, innovation and entrepreneurship. </p><p class=""> At the very least, the West needs to acknowledge the huge damage that neo-liberalism has inflicted on democracy over the past 30 years. Many economists, not just on the far left, now indict the Reagan-Thatcher project of neo-liberalism for reversing the great postwar, baby-boom march towards equal opportunity. </p><p class=""> Neo-liberalism has become so pernicious that the accepted belief, promoted by advocates of free market fundamentalism, is that the West came to dominate the world because it embraced small government and privatization. In fact, economic historians Robert Allen and Michael Lind have demonstrated that unfree markets and big-government designs typified not only the East Asian path to industrialization, but also America's rise in the early 19th century. </p><p class=""> They argue that wealthier countries started preaching to poorer countries about the need for free trade - that is, to reduce tariffs designed to protect nascent industries - and the need to reduce government size - that is, allow foreigners to buy up vital sectors of the economy - only after they themselves had completed industrialisation on the back of very protectionist measures. <div data-bi-ad id="ad-53797" class="ad ad-wrapper postload in-post" data-force="" data-type="ad" data-adunit="business-insider/desktop/finance/clusterstock/post" data-pagetype="post" data-tag="china,obama,xi-jinping,south-china-morning-post" data-pos="atf" data-authors="" data-views="" data-region="Desktop In Post Ad" data-responsive="[{"browserLimit":[0,0],"slotSize":[[300,250],"fluid"]},{"browserLimit":[600,0],"slotSize":[[300,250],"fluid"]},{"browserLimit":[1260,0],"slotSize":[[728,90],"fluid"]},{"location":"inline"}]" data-url="/web/20181023120304oe_/https://www.businessinsider.com/the-west-is-blind-to-the-appeal-of-chinas-model-of-authoritarian-capitalism-2015-7" data-amazontamsizes="[[300,250],[728,90]]"></div></p><p class=""> Equally dangerous is the myth perpetuated in the West that China has grown so rapidly because it has embraced the neo-liberal model. This is patently false. </p><p class=""> China has succeeded, thus far, because it reformed on its own terms, picking and choosing elements of development models around East Asia - those of Japan, Singapore and Taiwan - and adapting them to its own context. The Chinese model is, in fact, intended as an antidote to Western neo-liberalism. </p><p class=""><figure id="img-675887" class="figure image-figure-image postload" data-type="img" data-e2e-name="image-figure-image" data-media-container="image" style=""><postload-img data-src="https://amp.businessinsider.com/images/559fbacaeab8ea2b03f7425b-750-471.jpg" data-sizes="(min-width: 960px) and (max-width: 1259px) 640px, (min-width: 1260px) 960px, (-webkit-min-device-pixel-ratio: 2) 50vw, 100vw" data-srcset="https://amp.businessinsider.com/images/559fbacaeab8ea2b03f7425b-160-101.jpg 160w, https://amp.businessinsider.com/images/559fbacaeab8ea2b03f7425b-320-201.jpg 320w, https://amp.businessinsider.com/images/559fbacaeab8ea2b03f7425b-480-302.jpg 480w, https://amp.businessinsider.com/images/559fbacaeab8ea2b03f7425b-640-402.jpg 640w, https://amp.businessinsider.com/images/559fbacaeab8ea2b03f7425b-750-471.jpg 750w, https://amp.businessinsider.com/images/559fbacaeab8ea2b03f7425b-960-603.jpg 960w, https://amp.businessinsider.com/images/559fbacaeab8ea2b03f7425b-1136-714.jpg 1136w, https://amp.businessinsider.com/images/559fbacaeab8ea2b03f7425b-1334-838.jpg 1334w, https://amp.businessinsider.com/images/559fbacaeab8ea2b03f7425b-1536-965.jpg 1536w, https://amp.businessinsider.com/images/559fbacaeab8ea2b03f7425b-1920-1206.jpg 1920w, https://amp.businessinsider.com/images/559fbacaeab8ea2b03f7425b-2560-1608.jpg 2560w, https://amp.businessinsider.com/images/559fbacaeab8ea2b03f7425b-2732-1716.jpg 2732w" data-alt="china car driving"></postload-img><span class="image-source-only "><span class="image-source" data-e2e-name="image-source"> Kevin Frayer/Getty Images </span></span></figure></p><p class=""> So what should the West do to counter the rise of the illiberal Chinese model? It must demonstrate some candor about its own developmental path - in the past and in the future - before it preaches to the developing world. It must invest more in education and in improving infrastructure to avoid being overtaken and left behind by China. It must swallow its pride and accept that it can learn some lessons from China in terms of long-term economic planning and market intervention. Narrowing the inequality gap in the West is essential so the China model does not gain further credibility on the back of purely economic success. </p><p class=""> And it must truly acknowledge the fragility of democracy itself in order to realize what is at stake here. As Israeli historian Irad Malkin noted: "Democracy existed for about 200 years in the ancient world and has existed for about 200 years in the modern world, and other than that there has been no democracy in the whole of human history. Oligarchies have always existed." </p></div> </section> <section class="post-content-more "> <em> <section class="publication-external-url typography"> Read the original article on <a href="https://web.archive.org/web/20181023120304/http://www.scmp.com/frontpage/international">South China Morning Post</a>. Copyright 2018. Follow South China Morning Post on <a href="//web.archive.org/web/20181023120304/https://twitter.com/SCMP_News">Twitter</a>. </section> </em> <section class="publication-feed-content" data-e2e-name="publication-feed-content" data-track-event-label="more-from"> <div class="publication-feed-container" data-feed-container> <script> BI.requireQueue.push({ requireFunc: function () { require( "src\/scripts\/utils\/contentProvider" )( {"providerName":"publicationFeed","synd_rss_feed":"https:\/\/web.archive.org\/web\/20181023120304\/https:\/\/betri.murtr.businessinsider.com\/feed?feed=http%3A%2F%2Fwww.newslookup.com%2Frss%2Fasia%2Fchina%2Fscmp.rss&format=json&id=90mx6B%2BRchJrt5thnJA1MNQRIbRon4RHl7rKQTfXo1w%3D&key=58f7818fd504803d9fd64c6a","label":"South China Morning Post","originalurl":null}, window); }, priority : undefined }); </script> </div> </section> <section class="popular-video" data-e2e-name="popular-video-wrapper" data-track-event-label="now-watch"> <h3 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The west is blind to the appeal of China's model of authoritarian capitalism - Business Insider