-
ALSO READ
China rebounds from coronavirus crisis, economy grows 3.2% in Q2
The Chinese decade: Coronavirus has given Beijing a strategic opportunity
Covid-19 hit Chinese economy on a slow path to recovery, says UBS
Blaming China? Blame those who keep us poor & weak
Xi Jinping launches 'Clean Plates Campaign', triggers fears of food crisis
-
President Xi Jinping opened a meeting in Beijing this week to map out the next phase of economic development, just days before one of the most contentious US elections in history will produce a president resistant to China’s ascent no matter who wins.
The country’s 14th five-year plan is expected to center around technological innovation, economic self reliance and a cleaner environment. Communist Party officials will also set goals for the next 15 years as Xi seeks to deliver on his vow for national rejuvenation by gaining the global lead in technology and other strategic industries. The meeting is closed to the press, and key decisions likely won’t be made clear before it wraps up on Thursday.
If China’s economy — which is already recovering swiftly from the coronavirus shock — can stick to the growth trajectory of recent years, it’ll surpass the US within the next decade. The prospect of ever deeper frictions with the US underpins Xi’s strategy to accelerate plans to shield China from swings in the world economy. Xi and other officials have recently insisted the economy will further open its doors to foreign capital and competition, reflecting concerns about how the world will perceive the upcoming plans.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU