With pragmatic leaders like Deng Xiaoping and Jiang Zemin, China’s opening up was a lesson in how far small investments can go when paired with the right policy framework and a willingness to adapt. As Beijing moves to ease parts of its zero-Covid policy, there is hope these virtues live on.
To cope with the redistribution of wealth and political power, democracies should strengthen defensive alliances, engage openly with Beijing and exercise strategic patience: given China’s demographic transformations, change may come from within.