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China is a giant by virtually any standard. Larger than the continental United States, it is home to more than 1.3 billion people—more than one-fifth of the earth’s population. Although China is poor, its economy has been among the fastest growing in the world since 1980. That rapid growth is the result of a gradual shift toward a market capitalist economy. The Chinese have pursued their transition in a manner quite different from the paths taken by former Soviet bloc nations.
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