Theoretical Considerations on the Recent Growth Experience of China

The development experience of China has exhibited some features that differentiate it from all other countries since the advent of the capitalist system (Ghosh 2019). First. the rate of growth of GDP both before and after 1978 was high (Felipe and Lanzafame 2020). Second, the acceleration of the rate of growth of output since 1978 did lead to an uneven experience with poverty but it is undeniable that policy initiatives especially in the twenty first century have led to a decline in poverty and increase in levels of life expectancy (Liu et al. 2020; Sullivan, Moatsos, and Hickel 2024).