China Media Group organised a symposium in Johannesburg, South Africa on last week Wednesday to delve into the outcomes of the recent session of the 20th Central Committee of the Communist Party of China.
Experts from both China and South Africa shared insights on how Africa can strategically capitalise on China’s ongoing reform and modernisation efforts as China grows from strength to strength.
Joyce Yinan Zhao: Professor Tembe, thank you for joining us today. To begin, what are your thoughts on the recent Third Plenary Session of the 20th Communist Party of China (CPC) Central Committee and its focus on ‘Further deepening reform and promoting Chinese-style modernization’?
Prof. Paul Zilungisele Tembe: Thank you, Joyce. The Third Plenary Session is significant as it outlines China's path to further modernization and deepening reform. This session emphasized the importance of opening up, fostering a first-rate business environment that is market-oriented, law-based, and internationalized, and protecting the rights and interests of foreign investors. These resolutions signal a continued commitment to reform that will likely spur economic growth both in China and its partner countries, including South Africa.
Joyce Yinan Zhao: How do you think these resolutions will impact South Africa and other African countries?
Prof. Paul Zilungisele Tembe: The impact is multifaceted. Firstly, the commitment to opening up and creating a conducive business environment means more investment opportunities for South African and African businesses in China. This includes a market-oriented approach and the protection of investor rights, which are crucial for fostering trust and encouraging foreign direct investment (FDI). Historically, every phase of China's reform has led to substantial growth for its partners, and I believe this trend will continue.
Joyce Yinan Zhao: You mentioned both obvious and not so obvious factors that will influence the benefits South Africa and the region might derive from these reforms. Could you elaborate on these?
Prof. Paul Zilungisele Tembe: Certainly. The obvious factors include the harnessing of the African youth dividend, policy and economic growth sovereignty in African countries, and enhanced cooperation among south-south nations. These are straightforward as they build on existing successes of the China-Africa cooperation, such as trade, economic assistance, and human capital development.
The not-so-obvious factors involve adopting a rational-legal authority with a people-centred approach to governance. This means that South Africa and other African countries need to adapt governance models that align with their unique socio-economic contexts rather than merely adopting Western neoliberal frameworks. Such an approach could unlock further benefits from China's ongoing reforms.
Joyce Yinan Zhao: Speaking of the African youth dividend, how do you see China’s reforms aiding in this aspect?
Prof. Paul Zilungisele Tembe: The African continent boasts the youngest population globally, with a significant proportion under the age of 35. China's track record in human capital development, particularly in science and technology, presents an excellent opportunity. By investing in education and skills training, China can help African countries transform this demographic bulge into a highly productive workforce, driving long-term economic growth.
Joyce Yinan Zhao: In light of the upcoming 9th FOCAC Summit, what strategies should South Africa and the region consider to maximize the benefits from these reforms?
Prof. Paul Zilungisele Tembe: South Africa and the region need to formulate and implement governance models that are conducive to current geopolitical paradigm shifts. This means embracing rational-legal authority with a people-centred approach to governance. Additionally, fostering environments that are welcoming to foreign investments, encouraging youth participation in the economy, and leveraging multilateral financial institutions will be key. It’s also vital to ensure that the benefits of cooperation are broadly shared across society, enhancing both symbolic and tangible aspects of the China-Africa partnership.
Joyce Yinan Zhao: Thank you for these insights, Professor Tembe. As a final question, what do you see as the primary challenges South Africa and other African countries might face in leveraging these opportunities?
Prof. Paul Zilungisele Tembe: The primary challenges include addressing governance issues, ensuring transparency, accountability, and effective management. These challenges are often rooted in outdated frameworks that do not align with current needs. By modernizing governance practices and ensuring they are people-centred, African countries can better position themselves to fully benefit from China's deepening reforms and modernization efforts.
Joyce Yinan Zhao: Thank you for your time and valuable insights, Professor Tembe. Your perspectives on the potential impacts of China’s reforms on South Africa and the region are truly enlightening.
Prof. Paul Zilungisele Tembe: Thank you, Joyce. It was a pleasure discussing these important issues with you.
CMG