Over the past five years, a transformative strategy has taken shape. Chinese President Xi Jinping introduced a "new development pattern," emphasizing a robust domestic economic cycle alongside strategic global engagement. This dual circulation approach is not merely a response to evolving challenges—it is a blueprint for resilience in a rapidly transforming international landscape.
Amid rising trade protectionism, technological decoupling, and major shifts in global supply chains, the strategy leverages the strength of the Chinese mainland's vast domestic market. Structural reforms and targeted initiatives—such as boosting the semiconductor self-sufficiency rate from 15 percent in 2020 and launching pioneering projects like "east data, west computing"—are fueling industrial upgrading and digital innovation.
Consumer trends have also played a pivotal role. Early progress during the 14th Five-Year Plan saw domestic demand energize sectors including new energy vehicles, cultural tourism, artificial intelligence, and quantum computing. These advances are providing valuable insights for emerging economies as they navigate an increasingly complex international arena.
The dual circulation strategy underscores a balanced approach: harnessing internal strengths while maintaining high-level openness to global collaboration. For emerging markets facing uncertainties and rapid geopolitical shifts, this method offers an inspiring model for sustainable growth and technological progress.
Reference(s):
Navigating global shifts and forging a path for emerging economies
cgtn.com
