The path of economic development may take many alternative paths and contain frequent deviations, however, as each nation develops, it must address the root causes of poverty and past failures. Economist Daron Acemoglu of the Massachusetts Institute of Technology argues that inclusive political and economic institutions aggregate to form an argument based on the historical antecedents of countries around the world. Furthermore, the thesis of economist Barry Weingast of Stanford University is based on the idea of ​​a strong, but never too strong, federalist system that acts as a catalyst for economic success. While both authors contain numerous historical examples, neither sets a precedent that is fully applicable to the current economic and political situation in the People's Republic of China. To understand the failures of Weingast's argument, it is essential to examine his findings and how they compare to Acemoglu's findings. Weingast examines the role of decentralization in the federalist system and how the political foundations of markets are crucial to the process of economic development. “China has more than 900,000 laws and regulations as well as hundreds of thousands of judicial decisions. Many Chinese citizens are aware of the laws and policies and think the government should take them more seriously” (Diamant). The idea that a nation must make a credible commitment to the preservation of markets is based on limiting the power of political officials through self-enforcement mechanisms, yet it is evident when speaking to many Chinese citizens or reading non-state media that rampant corruption is one of modern China's pressing problems (Weingast 2). This phenomenon arose from the Chinese establishment… middle of paper… Party officials had some breathing room before making the crucial decision to choose between “what is good for China and what is good for the CCP.” ?” and whatever path they choose will impact the economic well-being of the entire world (Branstetter 2013). The old Chinese economic model, which rewarded both the country and the elites very well, must now be transformed into a model that will continue to reward the country, but at the relative expense of the elites. The recent political turmoil in China is not a coincidence and is not over. History has made it very clear that the next ten years will represent a political challenge for China even more than an economic one. After the Third Plenary Session of the 18th CPC concluded more than a week ago, we are left to wonder whether the suggested reforms will be the panacea for China's possible political ills...