With an average annual growth rate in the double-digits, the People’s Republic of China lifted over 500 million of its people out of poverty between 1981 and 2010.3 China is now the world’s second largest economy and is predicted to overtake the United States in the coming years. All of this has been, and continues to be, achieved in a liberal global political economy. Therefore, traditional Confucian views on the undesirability of the profit motive taken verbatim are not suited to contemporary China, if it aims to continue down the path of modernisation and economic primacy. Deng Xiaoping’s aphorism noting that it doesn’t matter whether a cat is black or white, as long as it catches mice, continues to be relevant in this aspect.
"Of what use is an ancient philosopher, Confucius, to 21st century China?,"
Culture Mandala: The Bulletin of the Centre for East-West Cultural and Economic Studies: Vol. 11
, Article 2.
Available at: http://epublications.bond.edu.au/cm/vol11/iss1/2