China is steadily emerging as the economic miracle of the 21st century. Its transition from a state-controlled to a capitalist economy has occurred at a remarkable pace. It is only twenty-five years ago that Deng Xiaoping initiated revolutionary economic reforms to open up China. The country’s unprecedented growth is nurturing a new wave of world-class companies that are beginning to make an impact on the world’s markets. But is China’s growth sustainable? And what are its implications for the world’s companies? 作者简介： Jonathan Woetzel is a director in McKinsey & Company's Greater China office (Beijing, Shanghai, Hong Kong, Taipei), and leader of its corporate finance practice in China. A co-founder of McKinsey's Shanghai office, where he has been based since 1994, Dr. Woetzel has also worked in McKinsey's Hong Kong, Los Angeles, New York, and Zurich offices. Dr. Jonathan R. Woetzel, a Director in McKinsey & Co.’s Shanghai office, provides a fact-based perspective of China’s
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