ChinaTalk with David Dollar (Brookings Institution)

Over the past 40 years, China has undergone an economic metamorphosis “from rags to riches”. However, the road to success was not easy. In its extraordinary history, China experienced failure, sudden changes in policy, and political system challenges. The rapid economic growth has carried with it huge economic and social costs. Are the structural reforms of the Xi Jinping era failures or successes? Is there a good replacement for the so-called “Flying geese” pattern, i.e. the export-led development model? Can China avoid the middle-income trap? What international challenges does China face and what conclusions should the country draw from its development to date?