China’s Next Mountain to Climb
After three decades of sustained growth and a remarkably successful policy response to the recent global crisis, Chinese self-confidence is soaring. But the lessons that China's government may draw from the crisis may not be the best guides for the long term.
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MILAN – China is entering a complex set of transitions that will lay the foundations for the advanced-country status that it hopes to reach in the next 25 years. After three decades of sustained growth and a remarkably successful policy response to the recent global crisis, Chinese self-confidence is soaring. But the lessons that the government may draw from the crisis may not be the best guides for the long term.