Workers cutting rail tracks at the construction site of a subway line in Changzhou, Jiangsu province. China has pursued economic modernisation through massive infrastructure investment, including bridges, airports, roads, energy, and telecoms.
CHINA has achieved much since 1978, when Deng Xiaoping initiated the transition to a market economy. In terms of headline economic progress, the pace of China's transformation over the past 40 years is unprecedented. The country's GDP grew by nearly 10 per cent per year on...