China’s Economic Experience: Insights, Lessons and a Perspective

Abstract

China’s economic resonance is an amazing story; some would describe as it as a stupendous saga of transformation of a developing country that had more than a few odds stacked against her to one of the most important nations in the global economy. Illustratively speaking, China’s impressive economic performance was the result of a unique blend of rather disparate elements, such as communism, a market-based economy, foreign investment, capital controls, liberalism and political conservatism, that that worked well enough to result in an impressive economic performance for over a decade. Managing the coexistence of all these apparently mutually exclusive features was a balancing act that was not easy. However, it demonstrated that it is the context and circumstance prevalent in any nation that should determine its policies and strategies of growth.