As global trade winds shift, the Chinese mainland is doubling down on its economic vision: a steady 5% expansion in 2025. High-level officials say the country has enough elbow room to hit its economic and social development goals, even as the world faces rising trade tensions and shifting alliances.
In the latest edition of The Hub, hosts sat with three experts to unpack this strategy. Wang Yaojing from Peking University's School of Economics highlights how boosting domestic consumption and investing in tech innovation will be key pillars driving growth. According to Wang, focusing on emerging industries and green development can help buffer external shocks.
Iain Begg of the European Institute at LSE adds an international perspective. He sees global economic fragmentation as reshaping trade flows, with supply chains diversifying away from old hubs. This trend, he notes, forces countries to rethink partnerships but also opens doors for new market leaders.
Andy Mok from the Center for China and Globalization paints an optimistic outlook. He believes that smart policy tweaks – like targeted fiscal support and deeper regional cooperation – can keep trade channels open while strengthening resilience against external risks.
China's commitment to a 5% growth target reflects a broader strategy: balancing internal reform with global engagement. By leaning on homegrown innovation, sustainable initiatives, and diversified trade ties, the country aims to chart its course through uncertain economic waters.
Reference(s):
cgtn.com
