Introduction

McGregor outlines five myths about the Chinese Communist Party while calling the Chinese path of economic development as Market Leninism. From a backward and stagnant agrarian society to the industrial workshop of the world defines Chinese development, and it is a testament to the Chinese model of economic growth alternatives. The economic growth led to the rise of China from the tenth largest economy in 1979 to the second largest economy in 2022. As the capitalist economies and developed countries are suffering from a massive economic slump with rising public and private debt, China provides credit to the world. Developed countries with a per capita gross national product of $8,000 to $10,000 can afford that but the authors cannot. It questions sustainable economic growth and puts the future of China and Chinese people in jeopardy. There are private investors and private investment banks, but the Chinese government continues to be the major shareholders of these private banks.