Dambisa Moyo: Is China the new idol for emerging economies?

Dambisa Moyo: Is China the new idol for emerging economies?
Globalization has been a very useful tool for western countries to develop and improve their capitalist markets and expand industrialization. Western countries believe that globalized factors like liberal democracy, private capitalism, ​and prioritization of political rights are principles that all countries are supposed to adopt in order for them to be developed. This video teaches us that not all countries developing or under-developed can adopt the same principles that western countries have immediately. This is presented as follows; To begin with, Underdeveloped countries need food, shelter, education, ​and healthcare because people in these countries are trying to survive because they do not have these basic necessities. This means if they adopted democratic globalized principles they would have to struggle to decide​ whether it was beneficial to obtain shelter or the right to vote first. Additionally, globalized democratic governance is not the only solution, there is another. China has created an alternative system of governance that has State capitalism, de-emphasized democracy and prioritized economic rights instead of political rights. This has been viewed as the new frontier for economic and political stability for emerging market countries. This is because China has produced​record-breaking​g economic growth within a short period of time and moving over 300 million people out of poverty, increase education attendance in secondary school from 27% in 1997 to 82% in 2012, and it has also improved its income inequality without changing the political. This has shown that westernized values of democratic globalization are not the only means to have successful economic development. China’s adoption of an alternative political and economic structure encourages underdeveloped countries to realize​ their own development structure that could benefit their own countries and still secure their national values without fully adopting western democratic values and principles.