China is marking a major milestone this year. It is now 40 years since the country began to open up and launch economic reforms.
Today, China has been transformed. It has seen rapid economic development and has pulled more than 800 million people out of poverty. It is also playing a major role in the global economy and is a leader in promoting globalization and free trade. Meanwhile, Chinese President Xi Jinping is promising more reform and opening up as the country plans for the next phase of development.
Discussing China’s 40 year transformation on The Heat were Pingkang Yu, the Chief Economist with Changjiang Pension Insurance Company; Perry Wong, the Managing Director of Research at the Milken Institute; Anil Gupta, a professor at the University of Maryland and Chairman of the China India Institute in Washington; and Martin Jacques, Senior Fellow at the Department of Politics and International Studies at Cambridge University.