From brick-and-mortar factories to AI-powered innovation hubs, China's economic transformation over four decades stands as one of modernity\u2019s most compelling stories. Former Malaysian Ambassador to China Abdul Majid describes this journey as \u201ca visionary blueprint turned reality,\u201d speaking to KhabarAsia about trends reshaping Asian prosperity.
\u201cIn the 1980s, you saw bicycles and smokestacks. Today, it\u2019s high-speed rail and quantum computing,\u201d Majid observed, recalling his first diplomatic posting. China\u2019s GDP growth from $191 billion in 1980 to $17.96 trillion in 2022 now anchors regional trade networks and green energy initiatives.
Digitalization drives this shift, with 1.05 billion internet users pioneering cashless payments and smart cities. Meanwhile, breakthroughs in renewables and space technology position China as a collaborator in global climate and research ventures. \u201cTheir tech parks attract talent from Silicon Valley to Singapore,\u201d Majid noted.
The Belt and Road Initiative\u2019s $1 trillion infrastructure investments amplify these changes, creating supply chain synergies across 150+ countries. As Asian markets contribute 50% of global growth in 2024, analysts watch how China\u2019s digital yuan and manufacturing upgrades will redefine cross-border commerce.
This evolution carries cultural resonance too. Streaming platforms like Tencent Video now rival Hollywood, while historical dramas spark global interest in Chinese philosophy. For 35 million overseas Chinese and Asia-focused businesses, these shifts signal both opportunities and paradigm shifts in 21st-century innovation.
