Wanted: A New Miracle

China has gone through a large and painful change since the 1970's with Deng's Economic policy that introduced Capitalism to China, now that China has become a "Big Economy" it'll have to find a way to conjure a new economic miracle which is to turn itself into a "Strong Economy" with domestic technological formidable manufacturers, rather than just producing inexpensive goods for the rest of the world. And begin developing its service sector and knowledge-based companies. China needs to find a way to turn savers into spenders, leveraging China's enormous domestic markets. Michael Tseng, an executive at Taiwan's BenQ Corp., which runs a hospital in Nanjing: "China was the world's factory, but manufacturing is yesterday's story now.". The Chinese saves much of what they earn because the government fails to provide a comprehensive social safety net, thus the government needs to fix the social infrastructure to get the people to start spending.