The Beveridge Society lecture by Mr Barnaby Powell (author) was held on 23 January. Review by Sonia (Year 13):
This Tuesday, the Beveridge Society welcomed Barnaby Powell to discuss the influence of China, with his lecture appropriately titled ‘The Development of China since 1976’. The aim of the lecture was to deepen our understanding of China’s economic developments since its modern establishment (of the People’s Republic of China) in 1949. Understanding this history is key to understanding how China has become the global powerhouse that it is today. Indeed, the lecture has allowed us to grasp China’s powerful influence in areas such as trade, investment, military and infrastructure.
Before leaping into discussing China’s current developments, Mr Powell provided a thoroughly detailed account of China’s history. He started with 1949, recognising Mao as the visionary of China. With 1976 marking the death of Mao Ze Dong, Mr Powell proceeded by discussing the market reforms commanded by Deng Xiao Ping. He described 1979 as a watershed year, as Deng reformed the market (Gaige kaifang) by emancipating the private sector and by opening the national economy to foreign investment. He effectively transformed China’s class struggle from Mao’s Cultural Revolution to the economic struggle in the 1970s and 1980s.
He also discussed the importance of growth. Labelling the GDP as the ‘western yardstick for investability’, Mr Powell instead stressed the importance of long run growth, delving into China’s One Belt One Road plan. He also looked at the major benefits that have derived from China’s economic growth. Mr Powell believes that one significant benefit, that has had a rippling effect across all economies, is the fact that China has acted as a main economic locomotive in the aftermath of the 2008 Financial Crisis, re-invigorating the world economy. He then touched on the many challenges the Party faces, analysing pressing issues such as debt, China’s lack of innovation in products, pollution and the inability of ownership for land.
Mr Powell’s enthusiasm on the question of China clearly shined through in this lecture. His lecture was truly insightful, covering a very thorough account of China's different developments. Overall, Mr Powell stressed the importance of introducing critical thinking into China’s education system in the long run, as it allows the country to gain a foothold in improving innovation in its goods and services. He believes that with this development, along with the enterprise and energy buzzing in its current economy, China will continue to be the ‘locomotive’ of the global economy. For this reason, he advises pupils to keep track of future Chinese developments.
The verdict is clear: China’s influence is here to stay.
