Epilogue

Abstract

Though critics may disagree with or question the methods the Chinese government adopted to develop its economy, they have benefited not only China but many other countries as well. The four “isms” discerned in this book, coupled with the leaders’ capacity, resilience, and quick response to issues, are largely, if not entirely, responsible for China’s economic “miracle” and will possibly sustain its rise. The willingness to experiment with new economic models and theories has been instrumental in transforming the economy from centrally planned to market based. Pragmatism not only has prevented the economy from falling into the brink but is responsible for China’s practical policies. Gradualism has avoided costly or irreparable mistakes or damages. Authoritarianism has made policy development, implementation, and management efficient and timely. On top of these is China’s meritocratic government led by capable and resilient leaders making timely remedial policies to address economic issues and policy management mistakes.