It might be useful to start by reflecting on what the phrase "governance challenges" could mean and whether these matters are viewed the same in Beijing and in other national capitals. What tangible, empirical counterparts are there to the notion of governance? The question deliberately invites comparisons between Chinese experience and that of other countries, which in turn begs the question as to which countries make for good comparators? Countries at similar stages of development? Richer countries in earlier times when they had levels of development comparable to China's current level of development? Mention is also made of China's new leadership which surely begs the question how new really is China's new leadership and, if they aren't that new, whether their past indicates their likely future decisions and inclinations.