Postscript on the Future of China as a Bankable State

The rise of China is not only a hope for the Asian people but also inspires working class people all over the world. It instils hopes that there is an alternative to predatory capitalism of the west. The Chinese Communist Party (CCP) played a major role in transforming China as a major world power while uplifting many Chinese from poverty, hunger and homelessness. The Chinese state capitalism or socialism with Chinese character under the leadership of CCP has managed its economy, politics and culture in a progressive manner. The Chinese achievements are potential alternatives to western capitalism. However, there are many issues that is confronting China today that limits the working-class politics. There is falling ideological appeal of the CCP among Chinese youth due to its top down approach. There is growing disillusionment among the CCP members because of the growing gap between theory and ideological practice among the top leadership within the CCP hierarchy. There is huge growth of economic inequality among Chinese population. The growing gap between rich and poor shows the failures of the CCP in developing egalitarian economic policies. The gap between rural and urban China is another concern that CCP ignores in practice. Many of these problems are self-inflicted by the arrogance and dominance of the CCP. It is making the same blunders that USSR made and collapsed. These self-inflicted harms are avoidable for the sake of China, Chinese people in particular and working-class people across the globe.