Openness and Economic Performance: a Comparative Study of China and the Asian NIEs.

Being the world's largest developing economy, China's successful economic performance since 1978 has had a powerful impact on the global economy. Its open policy features with an evolutionary process, involving the gradual liberalisation of foreign exchange, international trade and foreign direct investments. This paper evaluates how this evolutionary process has contributed to China's economic success in comparison with the development experiences of the Asian newly industrialised economies (NIEs).