The author is an op-ed contributor to Beijing Review and founder and CEO of U.S.-based consulting firms 5 New Digital and China BrightStar
Modern China and its wealth were initially forged in the country’s factories, making virtually every category of consumer and industrial product that the rest of the world wanted and for which global companies sought a more cost-efficient manufacturing solution.
Then came the second wave of Chinese development. After deciding to open up and reform its economy in 1978 and establishing itself as a manufacturing power between 1980 and 2005, China added technology, green initiatives, real estate, consumption, digital innovations, and countless other categories to the country’s GDP growth playbook over the following two decades.
China is
