ABSTRACT
The People’s Republic of China is a special case among our ‘team of 11’ for at least three reasons. First, it is a developing economy, still much poorer than any of the others. Second, from 1949 to 1979 it was not a capitalist country of any kind at all (and it may still be tactless to describe it as such; but our definition of capitalism is no doubt not the same as the Chinese Communist Party’s). Third, it is much larger in population than all the others we have discussed, put together.
