China is taking steps intended to reduce its exposure to Western economic coercion, while enhancing its leverage over others.
Deng Xiaoping‘s initiation of the ‘reform and opening up‘ programme at the end of 1978 appears in retrospect to be the decisive turning point in the history of modern China. Increasing reliance on market forces, as opposed to state planning, and deeper integration into the global economy, in place of the old policy of self-imposed isolation and virtual autarky, launched China onto a steep growth trajectory. Read more