Pakistan, Oct. 1 -- On 1 October 1949, a war-weary and largely agrarian nation announced the founding of the People's Republic of China. Seventy-seven years later, that same nation is the world's second-largest economy, its largest manufacturer and its largest trader in goods. As China marks its National Day, the anniversary is worth celebrating. For Pakistan, it is also worth studying.

The China of 1949 faced deep poverty, weak industry and little infrastructure. The turning point came in the late 1970s, when reform and opening-up brought in market mechanisms, investment and trade. Shenzhen, once a modest settlement, became a testing ground for new ideas and grew into one of the world's leading technology and manufacturing hubs. The met...