Translation Tag: economic reform
Days after Trump’s “Liberation Day” tariffs announcement, Guan Tao, the global chief economist at BOCI China, assesses the impacts of the intensifying U.S.-China trade war. He compares this round of tariffs with the earlier tariffs imposed during Trump’s first term, concluding that their impacts on China this year may be similar to those of 2019. However, Guan views the external environment as increasingly suppressive and unpredictable, arguing that it will force China to “focus on doing its own things well” and spur domestic reforms spanning its development pattern, trade model, and macroeconomic policy priorities. Guan expects U.S.-China economic and trade relations to worsen but is confident these domestic adjustments will enable China to weather the “tariff storm.”
Three Chinese state-affiliated researchers Jiang Zhao, Dong Chao, and Fu Jiang assess the impact of Trump 2.0 on the global economy and U.S.-China trade relations. They foresee Trump’s policies as harmful to multilateral economic cooperation, but they believe the impact on China will be limited. They also propose a slate of countermeasures for Beijing, which include further diversifying export markets and trade cooperation with emerging economies, optimizing China’s ability to attract foreign investment, accelerating RMB internationalization, and “telling China’s economic development story well” to influence global public opinion.
Yang Guoliang, a professor at the University of International Business and Economics (UIBE) in Beijing, frames U.S. pursuit of strategic competition with China as a reemergence of Western imperialism. He suggests the relative shift in economic power away from the West in past decades, toward the rest of the world, has led Washington to characterize globalization as “out-of-control” and introduce its own set of restrictions on international commercial engagement. While reiterating the need for continued reform and opening up, he underscores the need for China to set its own limits on commercial openness — particularly in the realm of inbound foreign investment from the West — in order to safeguard its sovereignty, security and development interests.
Chinese researchers Sun Xuguang and Zhu Caihua explore the new paradigms of China’s trade as it responds to its industrial upgrading and domestic circumstances. They argue that as China seeks to become a manufacturing superpower, it has come to compete directly with developed countries in advanced manufacturing fields, engendering trade frictions with them. In the case of the United States and Europe, China’s changing trade patterns that now prioritize integrating domestic technology have in the authors’ view threatened to break up the Western high-tech monopoly and inevitably faced pushback.
A report to the National Congress of the Chinese Communist Party (CCP), more commonly referred to as just the “Party Congress,” is arguably the most authoritative document in the Chinese Party-state ecosystem. It is technically the report of the outgoing Central Committee (here, the 17th Central Committee) at the quinquennial gathering of the Party Congress (here, the 18th Party Congress). Delivered by the General Secretary of the CCP (here, Hu Jintao), the report not only provides an official summary of the Party’s work over the past five years, but also outlines the official Party stance on all major policy issues and sets policy priorities for the incoming Central Committee (here, the 18th Central Committee).
A report to the National Congress of the Chinese Communist Party (CCP), more commonly referred to as just the “Party Congress,” is arguably the most authoritative document in the Chinese Party-state ecosystem. It is technically the report of the outgoing Central Committee (here, the 15th Central Committee) at the quinquennial gathering of the Party Congress (here, the 16th Party Congress). Delivered by the General Secretary of the CCP (here, Jiang Zemin), the report not only provides an official summary of the Party’s work over the past five years, but also outlines the official Party stance on all major policy issues and sets policy priorities for the incoming Central Committee (here, the 16th Central Committee).
A report to the National Congress of the Chinese Communist Party (CCP), more commonly referred to as just the “Party Congress,” is arguably the most authoritative document in the Chinese Party-state ecosystem. It is technically the report of the outgoing Central Committee (here, the 13th Central Committee) at the quinquennial gathering of the Party Congress (here, the 14th Party Congress). Delivered by the General Secretary of the CCP (here, Jiang Zemin), the report not only provides an official summary of the Party’s work over the past five years, but also outlines the official Party stance on all major policy issues and sets policy priorities for the incoming Central Committee (here, the 14th Central Committee).
The CCP Politburo holds “study sessions” on a semi-regular basis, in which an outside academic or government expert leads a discussion on a selected topic. Such sessions are important signals as to what issues the senior leadership finds important. The second study session of the 20th Central Committee Politburo was held on January 31, 2023, and was presided over by Xi Jinping. The session focused on themes related to China’s economic development, such as dual circulation, economic security and self-reliance, and rural-urban divides.