By one estimate, China mints a new billionaire every two days. How did China, which is officially a communist state, become such a hotbed of capitalism? This Bloomberg QuickTake examines how China transformed itself over the past four decades from an agricultural country to an industrial powerhouse, and what this portends for the future.

Originally released by Bloomberg, 2019. Streaming video file encoded with permission for digital streaming by Infobase on April 10, 2019.

Why Communist China Has So Many Billionaires-Bloomberg QuickTakes (2:24);.