“The perception of institutions as something in common implies that credibility is not about the individual acceptance of a rule. Instead, it relates to the aggregate perceptions of institutions as a common arrangement. For example, if an individual believes that others will behave in a certain way and have no incentive to deviate from the rule by which they are governed, that rule (institution) will be perceived as credible. It is thus not whether an individual actor – be it a farmer, entrepreneur, or state official – personally accepts a rule, but whether an actor expects that other actors will abide by that rule. Consequently, credibility is not about changing rules but about shifts in expectations, while institutions are only credible to the extent that actors expect others to act accordingly.” P. Ho (2017), Unmaking China’s Development, Cambridge University Press, p. 90.