China’s entry into the WTO in 2001 accelerated its rise as a global manufacturing and technology powerhouse, fueled export growth, and helped stabilize global demand during the financial crisis. As China expanded Belt and Road investments, advanced in EVs and AI, and entered a sharper economic rivalry with the United States, its property slowdown and domestic inequality exposed new vulnerabilities. Enda Curran, Elizabeth Economy, and Afsaneh Beschloss explain China’s past 25 years and what its next phase means for the global economy. (Source: Bloomberg)