And then there was China. Since the late 1970s, when Deng Xiaoping effectively abandoned Mao Zedong’s Marxist-Leninist vision in favor of an export-driven, state-managed form of capitalism, no nation in history had developed faster or moved more people out of abject poverty. Once little more than a hub of low-grade manufacturing and assembly for foreign companies looking to take advantage of its endless supply of low-wage workers, China now boasted topflight engineers and world-class companies working at the cutting edge of advanced technology.
