Despite fluctuations and variations, China has stayed on a path of export-driven growth and increased openness laid out under the leadership of Deng Xiaoping beginning in 1978. Rising from the ashes of Mao’s “Cultural Revolution,” China’s ascent has seemed nothing short of miraculous. But finally, cracks are appearing in the model that has worked so well for more than 30 years. As a result, the Chinese Communist Party is working feverishly to create a new model, while trying to hold the old one together. What changes are underway? What are the implications for the Chinese people, the global economy, and your investments? We’ll explain.
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