Thirty Years On - China Celebrates the Reform Process

Briefing Note
Dr Kerry Brown, October 2008

December 2008 marks the thirtieth anniversary of China's official Opening Up and Reform Process. There will be a number of meetings and events from this month till the end of the year in China reflecting, assessing, and celebrating China's achievements since 1978.
The Beijing leadership will be looking at the good, and the bad. China's status as the world's third largest economy, the largest holder of foreign reserves, the second largest exporter of manufactured goods, are clear benefits of the reform process. But the costs on the environment, growing energy demands, and the social issues are all problematic - and worsening.
With the global credit crisis deepening, China stands in an ambiguous position. The recent Olympic Games improved its image. People in the rest of the world are aware as never before of China's global importance. Given current financial instability, China's state funds increasingly appear a lifeline for beleaguered Western companies.
And yet the Chinese leadership look cautious. Will the following months see them emboldened? How much more do we know about China's vision of what it wants to become? Will the rest of the world welcome more proactive moves by China? Or will the same political reservations and fears remain, even when it is clear that the state of the global economy can only be improved through collective effort, to which China is key?