Changed beyond recognition in 40 years

At the end of the 1970s, when China was just starting to reform and open up to the world, China's foreign exchange reserves were barely more than $100 million. At an internal meeting in Beijing, late leader Deng Xiaoping tried to inspire the audience: Imagine! One day China may have a foreign reserve of $10 billion! How much can we do with that much of foreign reserve! Few thought that was possible.

Forty years later, China's foreign reserves are more than $3 trillion, after peaking close to $4 trillion. Likewise, almost in all other respects of economic and political life in China, profound transformation has taken place. China today is beyond recognition and imagination compared with 40 years ago.