The Bankinter Innovation Foundation analyzes how to face the challenge of New China. At the end of the seventies, Deng Xiaoping took a great step forward: he decided to open China up to the outside world. At the time, neither he nor anyone else could have imagined what the global repercussions would be. China has not conquered the world with a great army, but rather with assembly plants and the opening of its market. Today it is the second commercial power, the top destination for foreign direct investment and the second world consumer of oil derivatives.