World Economic Forum, 2006.
China’s economic development over the past two decades has surprised both her critics and supporters. Since 1978 when China launched its “Four Modernizations” reform process under the leadership of Deng Xiaoping, growth has averaged 9.5% annually. As a result, China has climbed in world rankings to become the sixth largest economy in terms of nominal gross domestic product. Thus in the last few years China has become the focus of much attention. Some parts of business, academia, government and civil society are more highly engaged in China than ever before. All need to think about what could happen next. But China’s future is not merely of interest for experts. China’s impact on global growth, resource allocation, trade and investment, as well as geopolitical balance has direct consequences for every part of the planet.
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