Resurgent Asia: Reinforcing Faith Back in Flexible Capitalism (Markets)

While the developed world’s transformations had materialised exclusively under capitalism, attempts to explore new systems, ostensibly for faster and inclusive growth, began after the 1917 Bolshevik Revolution in Russia. But communist China’s 1978 pioneering and rewarding market embrace did not only reinforce faith back in capitalism, broadly defined, but also made the embrace nearly universal soon after. How rewarding has the embrace really been? Since Asia, the world’s most populous and impoverished continent until 1950, has been the fastest growing region of the world economy thereafter, notably after wider market embrace, it offers an ideal field to investigate and identify the best performing economic system.