It was 40 years ago this week that China opened its doors to the world and launched a series of ambitious reforms that would create one of the world’s largest economic engines.
“China is now the world’s second largest economy, the biggest manufacturer, top trader of goods, and the second largest consumer of goods and recipient of foreign investment,” Chinese President Xi Jinping said during a speech in Beijing celebrating the 40th anniversary of the landmark reforms.
“December 18, 1978, was an important day to be remembered in the history of the Chinese nation,” Xi added, saying that it marked the “start of a great journey of reform, opening-up and socialist modernization.” Continue reading