08-10-2021, 08:38 AM
Frank Tang in Beijing
Published: 5:30pm, 19 Nov, 2020
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The plan places a greater focus on the domestic market, or internal circulation, and is China’s strategic approach to adapting to an increasingly unstable and hostile outside world.
It is expected to see China place less reliance on its export-oriented development strategy, or external circulation, without abandoning it altogether.
......
It is essentially a defensive approach by Beijing to prepare for the worst-case scenario as the world undergoes significant geopolitical and economic changes. The coronavirus exposed how dependent the world was on China for critical supplies of medical equipment, with nations around the world vowed to be more self reliant on such products, amid a push by the US for a sharp decoupling of the world’s two largest economies.
https://www.scmp.com/economy/china-econo...and-why-it
Published: 5:30pm, 19 Nov, 2020
......
The plan places a greater focus on the domestic market, or internal circulation, and is China’s strategic approach to adapting to an increasingly unstable and hostile outside world.
It is expected to see China place less reliance on its export-oriented development strategy, or external circulation, without abandoning it altogether.
......
It is essentially a defensive approach by Beijing to prepare for the worst-case scenario as the world undergoes significant geopolitical and economic changes. The coronavirus exposed how dependent the world was on China for critical supplies of medical equipment, with nations around the world vowed to be more self reliant on such products, amid a push by the US for a sharp decoupling of the world’s two largest economies.
https://www.scmp.com/economy/china-econo...and-why-it