The Chinese economy was the world’s largest for about 2,000 years, suffering a steep decline only in modern times. A change began with the establishment of the PRC in 1949, but was disrupted one again by decades of political strife. In 1978, Deng Xiaoping was determined to shake up economic policy and reform the insular planned economy into an outward-facing market economy. This is when the Chinese modern economic miracle began. 30 years of growth have seen China turn into the world’s second largest economy. How did this happen? What risks does China now face? An what course will China take next?