chapter  2
19 Pages

Development is an unyielding principle

WithCai Fang

Deng Xiaoping’s “development is an unyielding principle” is best the best illustration. Furthermore, China’s successful practice has also given new implications to the term “development.” Gross Domestic Product (GDP), a metric index of economic growth, is criticized by a wide range of international scholars. Although economists and statisticians have made various efforts, so far, no index has been found that is more comprehensive than GDP itself to better reflect the performance of economic development. Any country has to overcome various difficulties at different stages of its economic development. During the dual economic development after the reform and opening-up, China’s economic growth obviously benefitted from the demographic dividend. It meets the expectation of economic theory, has Chinese characteristics and is statistically proven. Economic development has inconsistencies with resources, environment and ecology. The concerns about tolerance of economic development enable some people to have questions about “development is an unyielding principle.”