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China has exhibited traits akin to both its North Korean sister in its past and its prosperous South Korean counterpart in its reform periods. The recent growth of China is an amalgamation of released entrepreneurial spirit, benefits from economies of scale, and selective fiscal policies attentive to global market trends.
The Future of China's Economic Growth
As we approach the present day, questions remain regarding the sustainability of China's growth model. Although China continues to outpace Western countries in economic growth, convergence to a global average remains inevitable. The challenge will come when China's growth must reconcile with its size and capacity to maintain an export-driven growth strategy over an extended period.