It is something of a truism that China has become the looming economic story of the 21st century. But misunderstandings about the Asian giant still prevail. To look into the challenges and realities of China, McKinsey convened a roundtable of leading thinkers on the topic.

Vik Malhotra, a director at McKinsey, introduced the session. "In a recent  New York Times article, foreign affairs editor Tom Friedman wrote from Tokyo that those leaders of Japan, America, Australia, Taiwan, Malaysia, Russia, Thailand, Indonesia, Singapore, the Philippines, or the European Union who are not going to bed each night saying a prayer for China are not paying attention.

China is much in the news not only because of its extraordinary economic record, but also because it is now the hub of an incredible economic story throughout Asia.  First, let’s hear some opening comments from each of our panelists."

To learn more about the panelists, the questions, and their answers, please explore below.