The birthplace of modern economics laying claim to Adam Smith and the last major marketising economy of our time are the subject of this lecture. The ideas, experience and performance of Scotland are complementary to the emergence of the emergent economic superpower, China. As Asia comes into its own in the 21st century, the ideas and trajectory of the economies which have come before and emerged as successful in industrialisation and achieving supremacy in developing a professional service sector will play a significant role in the development of China. From trade to investment links, exchanges of tourism and education, partnerships in ideas and expertise, Scotland and China are well positioned in this globalising world to realise what has been called the undeniable truth of economics, that is, international trade will grow the overall economic pie, increase the efficiency of all nations and raise living standards of people in the west and east. Nowhere is the realisation of the precepts of Adam Smith more exciting than its influence on the remarkable story that is China.