This Special Report highlights China’s remarkable economic achievements over the past quarter century, including its enormous expansion of output, employment, productivity, exports and incomes; unprecedented progress in poverty alleviation and material well-being; and the emergence of China as a major force in global markets. It also recognizes, however, China’s domestic problems in governance, banking, finance, law and the creation of institutions. Contributors to this volume do not predict a quick collapse of China’s economic prosperity. Nor do they anticipate that China’s long boom will extend forever, or that China is on a path to overtake the U.S. economy.