China’s Governance Path Of Global Development Deficit

Due to the inequality of the international system and the failure of national governance,countries around the world today are facing serious development deficits such as economic downturn and uneven distribution of wealth,which not only lower the overall living standards of people and deepen class consolidation,but also affect the political,economic and social stability of countries.Among them,developing countries with insufficient material supply are more prone to development deficits than developed countries,and since developing countries tend to be less resilient in the face of risks,development deficits are more likely to have negative impacts on them and are more difficult to recover after suffering damages.In order to promote national development and eliminate development deficits,Western countries have introduced a series of solutions,including promoting regional integration,providing official and non-official development assistance to developing countries,and "universalizing" the neoliberal reform experience successfully applied in the United Kingdom and the United States,etc.However,due to the arrogance and selfishness in the West,these solutions are However,due to the arrogance and selfishness of the West.these programs have the disadvantages of being coercive,vertical and utilitarian,which severely limit the effectiveness of the solutions proposed by Western countries.In the process of regional integration,developing countries with weak economic bases are often in a disadvantaged position,and their relevant industries cannot compete with the mature industries of developed countries,which eventually leads to industrial shrinkage;although the global development assistance from Western countries to developing countries is huge,it is inefficient and the "blood transfusion" aid model tends to cause The crude promotion of the Washington Consensus cannot be applied to developing countries with immature market economy systems and countries in transition.Instead,it has brought economic recession,widening wealth gap and social unrest.To sum up,the Western paths of managing the global development deficit are ultimately failures,and they have to some extent both deepened the existing global development deficit and led to a new global development deficit.In contrast to the actions of the West,the rising China has assumed the identity of a responsible power and proposed a Chinese solution to the global development deficit based on its own development experience and Chinese wisdom.China’s development philosophy of win-win cooperation,sovereign equality and independence is more moderate and acceptable than that of the West.and its parallel experiences of progressive reforms,infrastructure construction,insistence on developing the real economy and developmental poverty alleviation are more suitable for developing countries with similar national conditions and can be effectively applied through local adaptation.On the other hand,South-South cooperation helps to improve the overall strength,voice and international status of developing countries,so China’s development cooperation and development assistance to developing countries are carried out under the framework of South-South cooperation.China is committed to creating new mechanisms for South-South cooperation,such as the Belt and Road Initiative,the South-South Cooperation Assistance Fund,and the BRICS Fund,to promote new developments in South-South cooperation.Unlike the failure of the Western path to address the global development deficit,the actual implementation of China’s program has achieved great results,as the construction of the Monel Railway has not only promoted the development of manufacturing and export trade in East Africa,but also cultivated the subsequent independent development force for the East African railroad industry.China-ASEAN cooperation in poverty alleviation and development has improved the efficiency of ASEAN countries in poverty alleviation and development as well as their own governance capacity in poverty alleviation,effectively promoting the development of the cause of poverty reduction within ASEAN.China is sharing its development experience with the world and helping the world solve the global development deficit with practical actions,while at the same time ushering in new development opportunities for itself.