Keyu Jin

But

I think opening up was a really momentous thing that China did, and it wasn't just joining the WTO.

I mean, they were doing a decade of work in preparation leading up to that.

What's called special economic zone is really to turn Shenzhen from a fishing village to an export platform, now to a Chinese-style Silicon Valley, right?

And there was the agricultural reforms in the 1980s that meant that farmers could decide what they were going to grow and keep the surplus, right?

whereas it was a collective system before.

You know that very well.

And then, of course, the ultimate transformation was when China actually joined the WTO in 2001.

And the rest was history, right?

We're still talking about the aftermath.

But reforms was the single biggest impetus to Chinese growth.

And every time there was a major reform, it was followed by a good...

decade-long growth.

Every time growth went down, there was a new series of major reforms rolled out.

And then, oops, that, you know, led to another wave of good growth.

But I'd say that reform pace has slowed in the last 15 years.

But are there reforms to be done?

Yeah, absolutely.

You

But again, it comes back to politics right now.