Abstract and Keywords
This chapter examines China’s remarkable economic growth since 1978 as well as Africa’s structural transformation. It first considers the factors that enabled China to become an upper middle-income country during its transition to a market economy and why it could not attain similar success prior to the transition. It then looks at the reasons for the failure of most other transition economies, both socialist and non-socialist, including those in Africa, to replicate China’s success. The chapter also explores whether and how African countries can improve their economies the way China did and concludes by evaluating the opportunities presented by China’s rise as an economic power to other developing countries.
Keywords: China, economic growth, Africa, transition economies, developing countries, market economy
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