Why China’s commitment to reform shouldn't waver

China opened up to the outside world in 1978. 40 years later Beijing is backsliding. It should push on even if reform is a bitter pill to swallow in the midst of a trade war.

China's experiment with capitalism is under the microscope 40 years after former leader Deng Xiaoping launched his reforms and opened the economy up to foreign investment.

China has benefited hugely in economic terms, especially since it entered the World Trade Organization in 2001. From about $1 trillion that year, the Chinese economy has since morphed into a $12.8 trillion behemoth. Measured by purchasing power, China is the largest economy in the world. 

More importantly, the average Chinese person's income has grown over eightfold in that time, lifting an unprecedented number of people out of poverty, both in China and beyond.  

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