Cleansing effort: Xi Jinping’s mission to fight corruption is example worth emulating

Xi Jinping’s mission to weed out corruption from system should definitely be emulated by India
When finding ways to uphold high rate of economic growth should have been bothering him, combating corruption appears to be his focal drive. Astonishing it may appear for a leader of a country that has learnt to live with nothing less than a double digit rate of economic growth, since years. Nevertheless, Chinese President Xi Jinping is hell-bent in weeding out bribery from the Communist Party ranks, and means business this time. Had it not been a case how could 1.82 lakh cadre members were taken to task in various such cases?
He may be a man on a mission, investors across the world are spending fidgety nights ever since Jinping initiated a crusade to cease existing cartel or monopoly in the Chinese market and institute much needed transparency there. Nonetheless, this hottest assignment that can only be better branded as “Swachch China Mission,” has plunged growth to the lowest level in the past 24 years of the dragon nation’s history, and he illustrates it as a “new normal” too, rather captivatingly. When other emerging economies including India and developed players such as the US are leaving no stone unturned to steam up the laggard global ship – aided by lowering crude rates – China’s love for in-house sanitization sends mystifying gestures, the world over.
Audacious drive
In 2013, Xi Jinping had openly announced that this very skirmish against corruption is not limited to petite flies, but will also goal big sharks including high-ranking officials and politicians. Central Commission for Disciplinary Inspection (CCDI) that is delegated with the occupation of catching rotten apples is a synonym to fear in the country now days. The commission has hit the nail on the head of three big nexus surviving strong in the Chinese polity – petroleum gang, security gang and political gang –also referred to as “Xinhua Tigers.”
Amusingly, the inclusive drive is not switched on confidentiality but audaciously led by Wang Qishan, a close aide of Jinping with solitary intend to inculcate fear in the crooked.
President is not prepared anymore to uphold with export-oriented growth model and desperately wants to sanitize the corrupt centers of power in the government. In November 2014, Chinese President decided a new economy upgrading program during the Central Economic Work Conference of Communist Party after he returned Beijing from G20 summit. The total thrust was on ending ascendancy of a few companies, rightly discovering precise prices, liberalization of stock and financial markets, privatization and bringing transparency in government functioning.
Gigantic dilemma for investors
Nevertheless, the dragon nation is the largest manufacturing factory in the world and carries global growth on its shoulders. The world frantically aspire revitalization of vigorous growth at present and gazes China for the same. However, the “Swachch China Mission” is posing gigantic dilemma to the growth seekers.
As per global rating agency Moody’s, the transparency mission can lower down consumption, investment and saving rate in the country. The initial effects of the undertaking recommend that sales at high-end restaurants, deposits of public sector companies in banks and investment in fixed assets have declined substantially.
Conversely, Jinping is well aware about all these tribulations, but he also knows that corruption only increases inflation and cuts down on opportunities. And, if the aforesaid peril can be combated at this jiffy, the days forward are heartening for the Chinese economy making it a super power in unconditional means.
Anti-corruption mission is proving a global identification to Jinping on the same lines as economic liberalization did to Deng Chow Pang during late 1970’s and early 1980’s. The man justly deems that a high rate of growth can be accomplished for a longer time if vice of corruption can be rooted out of the country entirely.
Back in India, where Prime Minister Narendra Modi has launched “Swachch Bharat Abhiyan” to rinse out the entire country, there is also a staunch need to commence an analogous mission to wipe out the menace of corruption that is only raising its head each passing day. So, Xi Jinping’s mission to battle corruption is one example to emulate, indisputably.

Ashish Pandey

I am a business and finance journalist who is currently employed at Financial Express and previously at Zee News. My areas of interest include business and foreign policy. You can reach me on Twitter at @ashuvirgo1984 or @eFundsPlus.

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