Before anyone approaches anything related to Chinese economy must take into account several things that make China unique. In short, we cannot approach China as we analyzed any modern “Nation-state”, we need different and more refined analysis.

That’s why, without wishing to be exhaustive, before making any inroads on the state of the Chinese situation is important to list some –probably not all but certainly key–, clues in order to understand China.

(1) The phenomenon of China, its rapid growth and reforms is a change of historic proportions comparable to the fall of Rome and the rise of the United States in the nineteenth century.

(2) Following a double historical and demographic logic, China will become the world’s largest economy during the first half of this century does not imply that the West remains subjugated to a position of dominance by the new Asian power.

(3) China is not a “nation-state” is rather what Jacques Martin has come to call the longest in the world “civilization state”; today an empire in a rebuilding process.

(4) For more than a millennium (from the collapse of the Roman Empire until Europe launched its Industrial Revolution) Chinese civilization was the most advanced in the world in all areas: economic, political, social and technological.

(5) China has a basis of thought and philosophy different to that in Western Judeo-Christian base.

(6) This genuine philosophy is built around the ideas developed by Confucius and is configured as a cross element that impacts all areas of society, especially visible in the political structures of the Asian giant (clearly different from those in the West).

(7) The modernization of China begins after the “century of humiliation” by foreign colonial powers, a civil war, and after nearly three decades of Marxist ideological fanaticism under Mao Zedong regime with the advent of Deng Xiaoping in 1978.

(8) In 1978 Deng knocked-down the ideological wall that for centuries characterized the traditional isolation of Chinese civilization launching the first steps of the ambitious process of “reform and opening” in which is immersed today the Asian giant.

(9) The economic, political and social revival of China result of these reforms (and many others that are coming) is set to the largest global phenomenon that living our generation and, by itself, is setting a new global stage for the XXI century.

(10) The impact of the above is multidimensional and understanding requires a more complete model of analysis, with a wider horizon and greater sensitivity so that it can be approximated with solvency and understand the true magnitude of the changes that are happening today.