China’s economy: A stabilizing force in a volatile world

By Michael Wang
When people talk about China’s economy today, the word “resilience” often comes to mind. It is a useful description, but it may no longer be sufficient.
A resilient system withstands shocks and returns to its previous state. An anti-fragile system, as described by scholar and risk theorist Nassim Taleb, does something more: It adapts, reorganizes and becomes stronger under pressure. By that standard, the Chinese economy, in many respects, is moving beyond resilience and toward anti-fragility.
This is not to say China is immune to challenges. Every country faces its own economic headwinds. What makes China different is its ability to convert stress into strength, a pr...