China’s Unique Path: Learning Globally, Reforming Locally
China’s economic reforms, launched under Deng Xiaoping in 1978, followed a pragmatic, incremental approach often described as “crossing the river by feeling the stones.” Rather than adhering to a fixed blueprint, China pursued a sequential, learning-oriented process, carefully observing and adapting lessons from other countries while avoiding major mistakes. This approach unfolded in three broad … Read more