Transition is no new concept for the country

Few economists have explained to the world the difference between what is called development and what the Chinese call transition.

Transition is only one word. But it takes a huge effort for a large economy to realize the full potential of the definition if it means, as it does in China, a second stage of development in which an economy casts away its old skill set to learn and adopt an entirely new one.

By comparison, in its initial stage, development is a much simpler game.