When I was growing up, I was told to eat my dinner because “children are starving in China.” Then, prospects for China looked dismal, far worse than for Africa, India, or Latin America. The changes that have followed from the opening-up reform in China have astonished everyone. One very positive effect is that people in other countries with low GDP per capita are asking “If China did this, why can’t we?” The challenge for growth theory is to understand why growth in China was so much faster after reform th
Source: Economic Growth – Paul Romer