Joseph Ibezim
About 42 years ago, Deng Xiaoping was elected as the chairman of the Communist Party of China and national leader at the historic Third Plenum of the 11th Central Committee of the party held in December 1978. His emergence changed the economic trajectory of the country as it chose to transit into what came be known as a “socialist market economy” which would drive its development agenda.
This led to the reform of the economic institutions to prioritise production that would ultimately result in outstanding forward leap in growth that astounded the world in a relatively short time.
Ordinary Chinese which had for several decades been accustomed to deprivations, squalor and poverty prior to his coming to power began to see the blossoming availability of basic necessities in terms of food, shelter, clothing, healthcare, education, roads and other transportation infrastructure.
As Amitendu Palit, a senior research fellow and head of Partnerships and Programmes at the Institute of South Asian Studies, National University of Singapore, noted in an article, “Deng understood the importance of economic gains in incentivizing output, and was decisive in urging farmers to respond to such incentives. The boldness of the decision could hardly be overstated in a country where agricultural crises and food shortages were not distant memories, and whose large population was vulnerable to supply shocks. Along with the boldness, Deng’s economic vision was characterized by surprising clarity in the sequencing of reforms.”
Agriculture came first, followed by loosening of controls on foreign investment and creation of gigantic-scale manufacturing units. Indeed, there was no holding back of China once the first phase of economic reforms was over. Deng’s successors sustained his legacy and moved forward in a rapid, confident, sure-footed manner by allowing the market to respond to pricing signals and never letting go of opportunities to encourage investment.
The key question is: what made it all possible? A number of strategic decisions that prioritised economic growth without undermining the core Communist Party ethos. The government vigorously implemented plans to provide cheap land, cheap local labour and encouraged investment in major electricity projects to provide stable cheap power supply, that was available 24/7 in the newly designated industrial zones located at the coastal areas, to attract foreign manufacturing firms; the government granted incentives and implemented several other positive measures that were conducive for the market economy to take root and blossom.
Along with thiese steps, the government embarked on a massive programme of sending its brilliant young people to foreign universities to acquire technological knowledge and skills in America, Europe and return home to apply the knowhow.
Before long, the enormous prowess of Chinese industry propelled it to become the manufacturer to the whole world for everything ranging from toothpicks, handkerchiefs, textiles and apparels to high-end technological products. From a nation that was way down the economic ladder, China has leaped forward in less than three decades and displaced economic powers like Japan, Germany, Britain, Russia and several others. At one time, Japan was the second largest economy in the world with Germany in the third place, but today China is now the second largest economy in the world and it is very close to dethroning even the United States, which is in the first position.
Rapid technological development has extremely narrowed the gap between China and America. China is even challenging the United States in space, where the Americans once held sway.
Now, what does it all mean for Nigeria at this time? President Muhammadu Buhari is in a unique position to actively provide the clear leadership and visionary direction that can enable him replicate what Deng Xiaoping did for China. Deng groomed a tight team of officials with integrity and commitment to the national vision of China, who then implemented his vision for an economically and militarily strong and resurgent China, able to command global respect for itself and its citizenry.
Deng Xiaoping and his successors like Jiang Zemin, Hu Jintao and President Xi Jinping have remained true to the national vision and have consistently pursued it with vigour, from regime to regime, entrenching and improving on it, drastically combatting every manifestation of corruption which they recognised as a destructive virus. The key to achieving this is for President Muhammadu Buhari to give Nigeria one thing and one thing only: sure and reliable electricity that will power micro, mini, medium and large scale industrialisation coupled with a conducive environment for the growth of IT knowledge in the area of software development. It is instructive that Remita, the programme that powers the government’s Treasury Single Account (TSA) scheme was developed by Nigerians. Nigerians are getting very good in specialised software technology development and applications. It gives one a shot of patriotic excitement that very young children who are less than 10 years old already know how to write algorithms to code robots. The COVID-19 lockdown which kept them huddled at home provided abundant opportunity for them to build on their nascent skills in this regard. Nigerians can rise to the occasion when mobilised, energised and empowered by good leadership. The ball is in President Muhammadu Buhari’s court. Can he be Nigeria’s Deng Xiaoping?
• Joseph Ibezim, a media practitioner, wrote from Lagos