A compelling case for pragmatism

When Chinese President Xi Jinping landed in Macau, the world's gambling capital, the air was thick with anticipation.

- SANTHOSH MATHEW

Macau, often dubbed the "Las Vegas of the East," is much more than a beacon of wealth and opulence. For Xi and the Chinese Communist Party (CCP), it is a sparkling gem in the palm of China's vast and complex economic system - a model of the "One Country, Two Systems" framework that allows capitalist practices to thrive under the watchful eye of a socialist regime.

Xi's visit underscored the stark contrasts between theory and practice in the CCP's governance and the lessons it offers not only for China's neighbours but for the world at large. Macau's significance lies in its unique identity. A former Portuguese colony, it returned to Chinese sovereignty in 1999 under the promise of autonomy. Today, its glitzy casinos, luxury hotels, and sprawling Special Economic Zone (SEZ) generate billions annually, contributing substantially to China's GDP. But while the dice roll and fortunes are made on Macau's gaming tables, the CCP's control remains unyielding, reminding the world that even in spaces of free enterprise, the iron curtain of Beijing's authority looms large.

The irony is palpable. The CCP, a party built on anti-capitalist ideology, oversees the largest SEZ in the world in Shanghai, nurtures capitalism in Hong Kong, and allows gambling - once condemned as a moral vice - to flourish in Macau. This duality reflects the pragmatic philosophy first espoused by Deng Xiaoping: "It doesn't matter if a cat is black or white, as long as it catches mice." This approach has been pivotal in transforming China into the world's second-largest economy.