Felipe, Jesus; Kumar, Utsav; Usui, Norio; Abdon, Arnelyn - Levy Economics Institute - 2010
The key factor underlying China’s fast development during the last 50 years is its ability to master and accumulate new … and more complex capabilities, reflected in the increase in diversification and sophistication of its export basket. This … accumulation was policy induced and not the result of the market, and began before 1979. Despite its many policy mistakes, if China …