This book explains why China's opening-up policy can boost the rapid
growth of its economy. Based on concrete facts and economic logic, it
offers a brief introduction to the history of China's successful
development, which has unprecedentedly helped improve people's lives and
community welfare over the past 30 years. In light of the newly emerging
problems, the author assesses the different stages of China's economic
development and new challenges, illustrating how the country's
sustainable growth could be achieved through further reforms so as to
complete the transition from a middle-income to high-income country. He
moves on to discuss the lessons learned from China's experiences and
summarizes their significance for other developing countries, while also
clarifying popular misconceptions such as the "China Menace" and "Theory
of China's Collapse." Taking the logic of economic development as a
basis and employing economic norm analysis methods, the book describes
China's economic miracle in plain but vivid language and attempts to
enrich the economic development theory through China's experience.