From Deng to Xi, the China miracle
September 5, 2024
On 22 August, China commemorated the 120th anniversary of Deng Xiaoping’s birth. The third Plenary Session of the Communist Party of China in 1978 marked the beginning of China’s reform and opening-up under the leadership of Deng. His reforms transformed China from one of the poorest countries to the world’s second-largest economy. China’s gross domestic product expanded at what economists have described as a “miracle rate”.
