Since China began to implement the reform and opening-up policies in 1978, its development and reform have centred on two T-changes, namely the transition of economic institution and the transformation of social structure. The Chinese experience is often analysed in economic terms, with special attention given to the extent to which it conforms with or deviates from the more general development experiences. Efforts have been made to understand China from the theoretical framework of transition from a planned economy to a market economy. China is also analysed as the newest case of the East Asian development experience, following Japan and the Four Little Dragons of Korea, Taiwan, Hong Kong and Singapore. More recently, China is also considered one of the four emerging big economies, along with Brazil, Russia and India, in a framework widely known as "BRIC". The Chinese experience is, however, more than just economic development, thus it is different from the "China Miracle". (1) The Chinese experience, though not yet in its final shape, is not diametrically distinct from the Western experience of modernisation. This stance does not concur with the so-called "Beijing Consensus". (2) The Chinese modernisation experience is that of an oriental country with a large population. This fact makes it therefore somewhat incomparable with the experience of Western countries. Examining the Chinese experience can contribute to a better understanding of the trajectory of human history in the context of globalisation. As China's modernisation is an ongoing process, the Chinese experience will be defined, to a large extent, by how China responds when it enters a new stage of development.