China's endeavor toward the pursuit of modernization shows that there is no single path to successful development, said an expert in Beijing on Wednesday on stage at the Global South Think Tanks Forum.
Organized by the International Department of the Chinese Communist Party (CPC) Central Committee and China Media Group, the forum, with both online and offline formats, brought together leaders and experts from developing nations to discuss crucial global issues such as peace, development, and security.
During the event, Wang Dong, executive director of the Institute for Global Cooperation and Understanding at Peking University, shared his insights on what the Chinese pathway to modernization has to offer the world.
"There is a Chinese saying. I think some of our friends in the audience might have heard about this. In Chinese, it's called "san ren xing, bi you wo shi", so if there are three companions and they take a journey together, there always will be at least one who could become my teacher. That's the Chinese culture. We will always be ready to learn from others, so I think in terms of the endeavor toward the pursuing of modernization, this concept "Zhongguo-shi xiandaihua" - the translation is Chinese pathway to modernization - there also could be the Brazilian pathway to modernization, the Philippine way to modernization, the Polish pathway to modernization, etc," said Wang.
According to Wang, a developing country like China can succeed by forging its own unique path to modernization rather than adopting a prescribed forumala.
"What I think the Chinese experiences really tells us is that it breaks this myth that there's only one pathway to modernization among us, which is West-is-best. If you're not following the Washington Consensus, or now they call it the New Washington Consensus, you are outdated, you are not part of this, [it is] impossible [for you] to achieve modernization whatsoever. We successfully broke that myth, and we demonstrated that as a developing country, poor country like China, as long as we do the right thing -- investment, education, capital, technology, and also, we just discussed the right balance between the efficient, invisible hand of the market and the efficiency of the government regulation -- to combine all those things together, we found this Chinese pathway to modernization," he said.
The forum attracted participation from political figures, government representatives, analysts, scholars, and journalists from 76 countries and regions worldwide.
At the event, 40 think tanks from Global South countries jointly released an initiative reaching a broad consensus on enhancing development cooperation, promoting fairness and justice, and collaborating to build a global community for peace, security, prosperity, and progress for all.