China and Nigeria, two continental giants that entered the late 1970s with similar per capita incomes, have since taken opposite economic trajectories. In China, the decisive moment was Deng Xiaoping's 1978 decision to "open the windows" and let the world's capital know-how blow in. In Nigeria, the same decade ushered in the oil boom that encouraged governments to depend on volatile export rents rather than the hard grind of production. Nearly half a century later, the contrast is stark: China ships $3.58 trillion a year worth of merchandise each year to the US, runs the world's biggest high-speed rail and electricity networks, and has reduced extreme poverty to the low single digits, whereas Nigeria still relies on diesel generators to power most factories and holds the unfortunate record of hosting the planet's largest pool of people living on less than $3 a day.