1. Chapter 20. Life Objectives and the Chinese Dream Section 4. Needs, Value and Aspiration The Chinese Way, Ding and Xu, 2014 Chapter 20. Life Objectives and the Chinese Dream 1

2. Outline Introduction From wealth accumulation as the dominant life objective Factors contributing to this To diversified life objectives The Chinese Dream Road ahead 2 The Chinese Way, Ding and Xu, 2014 Chapter 20. Life Objectives and the Chinese Dream

3. Introduction The key driving forces of a nation – individual pursuits – standards of success – collective societal goals 3 The dominant life objective in China: Wealth accumulation The dominant social pursuit: The Chinese Dream The Chinese Way, Ding and Xu, 2014 Chapter 20. Life Objectives and the Chinese Dream

4. Wealth accumulation as the dominant life objective A survey (2011) conducted by the ESSEC Business School revealed that: – 51% of American entrepreneurs and top executives thought that successful people “create and know how to distribute wealth;” entrepreneurs from Great Britain (50%), France (59%), Germany (51%), Brazil (79%), Morocco (83%), and Russia (79%) agreed. – 79% of Chinese entrepreneurs and top executives responded that successful people “create and accumulate wealth”. 4 The Chinese Way, Ding and Xu, 2014 Chapter 20. Life Objectives and the Chinese Dream

5. Wealth accumulation as the dominant life objective “If you fail to possess a wealth of RMB 40 million, when you are 40, do not come visit me or reveal that you are my studen… To be poor is equal to disgrace and failure,” a professor at Beijing told his students. 5 The Chinese Way, Ding and Xu, 2014 Chapter 20. Life Objectives and the Chinese Dream

6. Wealth accumulation as the dominant life objective In a survey by Global Times, 60.9% of the interviewees admitted to money-worshipping, and 95.1% think that mammonism is flourishing in China. Mammonism has gradually become a mainstream attitude in society. – Success means wealth and vice versa, and power can be exchanged for wealth in China. 6 The Chinese Way, Ding and Xu, 2014 Chapter 20. Life Objectives and the Chinese Dream

7. Factors contributing to the dominant role of wealth accumulation Business owners used to be the lowest social tier in China class. 7 The Chinese Way, Ding and Xu, 2014 Chapter 20. Life Objectives and the Chinese Dream

8. Factors contributing to the dominant role of wealth accumulation But, exactly the opposite is true today. Several factors seem to have contributed to this: material goods have a strong allure after their long absence; wealth has become the most important measurement index – E.g., spouse selection – Income gap 8 The Chinese Way, Ding and Xu, 2014 Chapter 20. Life Objectives and the Chinese Dream

9. Factors contributing to the dominant role of wealth accumulation money has become the golden standard; – Social norms: lost faith after cultural revolution – Government’s endorsement: “Being rich is glorious” 9 The Chinese Way, Ding and Xu, 2014 Chapter 20. Life Objectives and the Chinese Dream

10. Factors contributing to the dominant role of wealth accumulation “Keeping up with Joneses” mentality Wealth can provide more stability and security. ̶E.g., Audi Q7 vs Bike ̶If we get sick, then? 10 The Chinese Way, Ding and Xu, 2014 Chapter 20. Life Objectives and the Chinese Dream

11. From wealth accumulation to diversified life objectives Life objectives are changing, especially among the youth. – A survey by the China Youth Daily confirmed that among those surveyed, 51.5% held the view that their ideal job is not necessarily one that is superior, but rather one that is well-suited to them. – E.g., an undergraduate persevering with writing poem for years 11 The Chinese Way, Ding and Xu, 2014 Chapter 20. Life Objectives and the Chinese Dream

12. From wealth accumulation to diversified life objectives In a survey of adolescents about individual values, many more respondents said that an individual’s values lie in good morality (67%), contributions to society (58.2%) and talents (56.9%). The younger generation wants others to encourage and respect their diverse values and life choices. 12 The Chinese Way, Ding and Xu, 2014 Chapter 20. Life Objectives and the Chinese Dream

13. The Chinese Dream The Chinese Dream: – a goal to develop a country that is prosperous, powerful and revitalized, – to make the people happy; – a primary objective that will be pursued collectively by the Chinese society in the coming decades. Almost everyone was in favor of this objective, believing it is beyond politics, acceptable to every Chinese citizen, and inspiring. But most of the informants could not agree on how the Chinese Dream should be defined. – They are too busy with their accumulation of material wealth for leading a high-quality life. 13 The Chinese Way, Ding and Xu, 2014 Chapter 20. Life Objectives and the Chinese Dream

14. Road ahead The Chinese are now searching for their own version of a dream. We are quite optimistic that Chinese society will gradually accept, and celebrate, that one does not need to be rich to be successful in life! 14 The Chinese Way, Ding and Xu, 2014 Chapter 20. Life Objectives and the Chinese Dream