Xi Jinping Proposes 'Chinese Modernisation' As Distinct Alternative To Western Capitalism In Commemoration Of Mao Zedong

Chinese president Xi Jinping has proposed an alternative to the Western capitalist model in his recent address, marking the commemoration of Mao Zedong.

What Happened: Xi on Tuesday utilized the occasion to underscore the “central task” of China and its governing Communist Party,  Bloomberg reported. He emphasized the necessity of building a stronger China and rejuvenating the nation through “Chinese modernization.”

This concept, which Xi has been advocating since 2021, is seen as a legacy of veteran revolutionaries, including Mao Zedong. Xi’s interpretation of Chinese modernization encompasses unique aspects such as benefiting a large populace, reaching common prosperity, and peaceful development.

Xi, who has held office for over ten years, has amassed power to levels unseen since Mao’s era.

See Also: Drone Footage Captures Accelerated Production Of Electric Vans At Rivian Factory

The decision by his administration to abolish term limits in 2018 has sparked investor concerns about the absence of checks and balances and the possibility of extensive income redistribution.

Why It Matters: In his address, Xi also reiterated the party’s stance regarding Taiwan ahead of the island’s presidential elections next month. Xi announced that the unification of Taiwan with mainland China “will surely be realized” and that any attempts to separate Taiwan from China would be thwarted.

Moreover, China has increased its threats of trade sanctions against Taiwan if the island nation continues to support independence. This warning comes in light of the approaching Taiwanese elections, thereby intensifying the political climate around the region.

Read Next: Trump’s Niece Voices Concern About Stephen Miller’s ‘Massive Deportation’ Rhetoric: ‘We’re Reaping The Wh