The Pursuit of Happiness with Chinese Characteristics

Sustained economic progress is the lynchpin of the reforms being introduced by China's new leadership. Growth will depend on China's ability to maintain social stability, spur innovation, and mobilize resources beyond the state in response to pressing social and demographic changes. This essay highlights the common domestic policy challenges confronting U.S. and Chinese leaders and the common aspirations of the citizens of both nations. It also observes that achieving the goals set by the Xi administration will depend critically on a devolution of responsibility, if not of power, from the state to citizens, to civil society, and to business, and that in this process, law and legal reform will play a key role.