Will China achieve its socialist goals?

Beijing, China:

The NPC report has set targets for economic and social growth in the upcoming year, which included 5.5 per cent GDP growth, over 11 million jobs in the urban sector, and an increase of the consumer price index by about 3 per cent.

The targets are a part of China’s long-term plans to return to socialism and curb capitalism, the report in the Hong Kong Post said adding that the plan for 2022 is in accordance with the outline set by the NPC in 2017 during their 19th Congress and all in the name of their favourite catchphrase “common prosperity”.

A large part of this China becoming a socialist nation is its ability to capture the national economy with state-owned industrial enterprises.

However, losses due to business inefficiencies are rampant in state-owned industries from carrying out government administration operations, political functions, or simply due to a lack of autonomy in management, the article said.

China’s solution to this problem is by cracking down on big industrialists and their private companies such as Jack Ma of Alibaba and levying complex sanctions and restrictions on them to “level the playing field”, the article added.

The next step in China’s road to socialism with Chinese characteristics is the transformation of agriculture, the report said, adding that the challenges being faced in the agriculture industry are enormous, including the availability of sufficient and usable water, degradation and availability of farmland, pollution of soil and the changing demands of a huge slowly urbanizing population.

To meet local demands China has pressured governments in countries like Pakistan by deploying their own trawlers in Gwadar Port. It is also commonly known that Chinese vessels engaging in Distant-Water Fishing (DWF) have conducted illegal fishing in the prohibited waters of countries like Mauritania, and Senegal, the report said.
China is currently far from self-sufficiency and hence far from achieving its goals in terms of reforming its agriculture industry in socialist tones, the report concluded.