On June 14 local time, Going Underground on RT aired an interview with Eric Li, Vice Chairman of the China Forum, where he shared his views on current Chinese issues of interest.

The host, Afshin Rattansi, began by asking about the G7 meeting under way and the future of globalization. It is unrealistic to rely on a group of seven countries to solve all global problems, Li said. Since the Cold War, the West has gone on an ideological crusade where it seeks to universalize its “magic formula”—electoral democracy and economic liberalism. Not only did it fail to deliver for the developing world, it has led to great unraveling of their own societies.

Explaining China’s institutional evolution, Li pointed out that the years between 1949 and 1979 of state socialism were the fundamentals upon which the Chinese 21st-century success was built. Further on, he argued that China’s socialist market economy, in which capital cannot override public interest, has achieved a more efficient allocation of resources than the West. Today, China is working to deliver more balanced and inclusive growth for all.

On Europe’s relationship with China, Li noted that the European project is in some trouble because it’s taken on an overly ideological direction; however, he expressed optimism concerning the future of China-EU relations, citing their close economic and cultural ties. He also stressed that, with its unique model, China hasn’t fired a single shot to achieve its meteoric rise and continued contribution to global prosperity. This is in itself a cause for celebration—there is no reason for the West to harbor hostilities toward it.

To watch the interview, go to: https://www.youtube.com/watch?v=e9bvoq0jxf8