Admittedly, there’s this group of people who believes that a society or country can only flourish when controlled in limited number of hands (somewhat like dictatorship but, at times, not exactly that). In the market-standard terms, these people favor capitalization and monopoly. So when looking at the remarkable growth of China, who has a democratic system, they wonder how did that happen. Understand, I am stating this in the most general way. These non-liberal people have similar views but not exact. They have their own ideologues and theories that strengthen their idea against democracy.
But here’s where they are wrong. In a society that favors undemocratic views and promotes capitalism, regardless how good the people in power is, there’s a threshold level of growth and innovation, beyond which things cannot progress.
On the other hand, in a democratic society where everyone is shared the same cup of opportunity, the chances of growth and innovation becomes seamless. Of course, the risk exists in regards to what if a company grows big and derails a part of economy – if not the entire infrastructure – in any way possible. But this risk is equally prevalent in the capitalist society—what if the handful of people responsible for the functioning of the economy goes rouge. The possibilities are seamless in either case.
Now coming back from theories and hypothetical to reality! In a democratic way of functioning, with the idea of communism still very prevalent, China has done incredibly good. Its well-regulated policies has provided equal opportunities to every kind of business and protected every party’s goodwill decently. Its export-based growth strategy has been a big success—prompting even India to take that approach. China’s growth has slowed down when compared to its growth past decade, but it’s still very good. The wealth is increasing. Every sector, from health or education, seems like booming.
All these are happening because of its democratic system, guarded with encouraging regulations, supports business ideas, regardless the size, of all kinds, including tech and innovation. So yeah, if we look back to history, democracy has always brought development in the society.Of course, China has its own flaws. It’s not to say that Capitalism doesn’t exist there or the idea of communism isn’t exploited extremely (at times, by the government itself). But all its growth success has come out of a democratic infrastructure.