China’s economic transformation since Deng Xiaoping’s reforms (1978): 25× increase in real GDP per capita; GDP share rising from 2% to 22% of world output; extreme poverty effectively eliminated. This is the fastest and largest sustained economic expansion in recorded history. For a quant: China’s growth phase is structurally similar to the US 1870–1940 period (industrialization, urbanization, export-led growth, financial system development). The remaining convergence gap to US per-capita income levels suggests China still has structural growth potential despite slower growth rates.