The desire to compare our circumstances with others just because of perception is not alien to human beings.
For many Chinese people in 1980, life was hell.
Beginning in 1981, the World Bank has kept records on the level of poverty in China. It was estimated that in that year, 88.3% of the Chinese population was surviving on less than $2.10 a day (roughly 870 million people). Raising the poverty line just a little bit revealed an alarming reality: 99.1 percent of China’s population existed on less than $3.10 a day (over 980 million people).
However, In 2014, the average Chinese household had a yearly disposable income of 20,071 yuan, which is equivalent to nearly $3,000 or $8.22 per day.
According to China Watch, between 2018 and 2022, the per capita disposable income of urban families was 47,412 yuan, a nominal increase of 8.2 percent over the preceding year.
How did China Build its economy?
How did China grow from a third-rate economy in the 1960s to the world’s second largest today, after being ravaged by World War II and its own civil war in the middle of the 20th century?
China’s GDP in 2021 was $17.7 trillion, making it the world’s second largest economy after the United States’ GDP of $22.9 trillion.
Using PPP, China’s economy would surpass the United States’ by more than $27.3 trillion, making it the world’s largest.
According to economist, China did two important things;
- Opening up to international trade
- Liberalizing the economy through diplomatic trade relations
Do you think things were easy for China at the beginning of this process, I strongly doubt that. However, what’s is clear for everyone to see is that the Chinese tried and it worked. That’s all that matters. If they can do it, any other nation can.
Applying China’s strategies in Africa
Moreover, one of the things that Chinese people didn’t really do was to abandon their country with the hope that someone else was going to fix it. Imagine if there had been a massive migration of their young population as we are currently witnessing in Africa, who would have built their country? Certainly not ghosts!
The Chinese people pulled up their sleeves and began watering the grass that God had given them, convinced that it would only get greener as long as they CONSISTENTLY watered it.
That is how they were able to promote their country’s development and rise against countries such as Germany, the United Kingdom, Russia, and others that were doing much better than they were not long ago.
You may be cursing me and saying, “Common….China cannot be compared to Cameroon, Uganda, Nigeria, Zimbabwe, or Ghana.”
But my question to you is, “What distinguishes Chinese people from Africans?” Please consider that question very critically!
And, while some Africans may say that Africa is doomed and blame their country’s stagnation on corrupt politicians, I’d want to point out that there is no country on the planet that is completely free of corruption.
The question therefore is, how can the young African population benefit from the continents first mover advantage?.
You may also like The First Mover Advantage For Africans.
Every nation’s fate is in the hands of its citizens. Unfortunately, no one will come to our aid. We must save ourselves. And, in order to have a broad impact, “charity must begin at home.” Every individual must be the change they wish to see in their countries and around the world.
While the majority of the world’s countries appear to be ahead, Africa has a rare chance to emerge as the top winner if its youth become more industrious. And, as Professor Lumumba correctly stated, it is time to put a way the box altogether rather than think outside of it.
Related article Million dollar Business Opportunities for African Entrepreneurs.
We have to turn the tights from consumers to producers and export much more than we import. That’s the only way out.
Furthermore, today marks a watershed moment in history. The Indian forefathers who battled for India’s independence will raise their wine glasses in celebration of this tremendous accomplishment. I remember hearing as a child the African proverb “the first shall be the last, and the last shall be the first.” It’s a new day, and India’s economy has now surpassed that of the United Kingdom.
It’s time for Africa to take up the challenge and run until the finish line…