Globalising China: part 1: the domestic market of the People’s Republic of China

In 1978 under the leadership of Deng Xiaoping, China decided to gradually open up its economy to achieve more economic development. Three and a half decades later, China has become an economic force to be reckoned with, surpassing Japan as the second largest economy in the world in 2010. China’s economic success is no longer purely based on lowcost manufacturing, inward foreign direct investment and export. It has evolved into a diversified economy with a seemingly inexhaustible pool of low-skilled labour and highlyeducated talent, a large number of up-and-coming enterprises with a competitive spirit and refreshing business ideas.