The key turning point of China's economic boom is President Nixon's 1972 official visit to China. That was a major turning point. Why? For two reasons. Firstly, before Nixon's visit, the U.S. had upheld a strict and harsh economic embargo against China. This economic embargo didn't pull down China. Instead China gained its autonomy, established a relatively good industrial structure and greatly reduced the rate of illiteracy. Under this historical context, Nixon's visit acknowledged China's efforts and achievements in building its economic and industrial structure. In addition, during Nixon's visit, the Shanghai Communique was issued. It completely lifted the U.S. trade embargo against China and acknowledged China's international status and entrance into the mainstream international market. You should notice that this is an equalized international status. Before the establishment of the People’s Republic of China, this country didn't have an equal status to enter the international market. China's achievement in economy, industrial and human capital building has allowed it to obtain improved status in the international market. That's the reason why I consider 1972 as a turning point for China's economy. I think the main reason for the economic boom is China has a strong government and ruling party, which has maintained a stable social order as a basic condition of long and continuous economic development. Due to this strong government and ruling party, China has gained a relatively equal international status in terms of politics, economy and military. If a country is not accepted as an economically competitive country in the international market there won't be any economic development.