Source: Newshour
In a spectacular display of nationalistic pride, China held a military parade on October 1 to commemorate the sixtieth anniversary of the People’s Republic. Along with reaffirming the strength and security of the ruling CCP, the parade was also used to showcase China’s impressive accomplishments in gaining economic, military, and political power over the past 30 years. Despite this, tremendous challenges lie ahead. China faces an aging population, an over-reliance on manufacturing, a dangerous imbalance on exports, stagnating consumption rates, and serious environmental degradation – all of which threaten to put a damper on future prospects for growth. So while China’s grandiose military production may succeed in temporarily boosting national pride, in the long term, it will be little more than a passing distraction from the intractable problems confronting the regime.