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Published online by Cambridge University Press: 28 March 2024
This chapter revisits the three critical historical conditions that made China’s age of abundance possible: the Chinese population, the history of the Cultural Revolution, and the leader Deng Xiaoping. It sets China’s economic prosperity within a historical perspective and argues that such a chapter is not repeatable and cannot be sustained. The chapter lists four headwinds as China moves out of its age of abundance: unfinished urbanization, rising incomes and wealth inequality, population aging, and the return of the state’s omnipresent control.
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