China's strategy for economic growth has been a work in progress since Deng Xiaoping launched the country's "reform and opening up" in 1978. While the last 40 years of reform have been far from error-free, the government has displayed a willingness to adapt, as well as a capacity for navigating complex transitions, supported by a healthy internal policy debate. But how is China's development model likely to evolve in the future, as external conditions pose new challenges to economic growth?