Is China’s development success transferable?
China’s recent advances have multiplied the real incomes of a considerable fraction of mankind. As China’s long boom enters its fourth decade, it is natural to ask what Chinese experience can contribute to the continuing search for accelerated income growth to benefit those who still lag behind. The “lessons” of China’s development success appear rather limited. China’s reform effort underscores general principles that apply to any development effort. China’s economic gains also rest on unique elements that are unlikely to appear elsewhere. We discuss each in turn.