Against a Gloomy Global Outlook, China’s Economy Seeks a New Transition
China has promoted a new pattern of development that is focused on the domestic economy and features positive interplay between domestic and international economic flows.
China has promoted a new pattern of development that is focused on the domestic economy and features positive interplay between domestic and international economic flows.
Demand is changing, not disappearing. The products people want, where and how they want to buy them, purchase motivators, and the continued torrid growth of e-commerce and integrated retail should all be subject to review and improvement.
China’s successes since the founding of the PRC, and the successes it will surely achieve on the path to becoming a great modern socialist country in all respects, will undoubtedly inspire progressive people the world over.
The last 10 years prove that, despite the yearly predictions of imminent economic or political collapse and the best efforts of those who fear China’s rise, China has a resilient and focused system that won’t be easily derailed.
That China is becoming an innovator in areas that matter to everyone else is much more a good thing than it is a bad one. Everyone has their red lines on certain issues. But in plenty of other areas, there is space and opportunity to work together.
China’s robust foreign trade can serve as a locomotive to lift global economic growth and as a prerequisite for stabilizing global trade.
As President Xi Jinping noted in a speech: ‘The world is undergoing profound changes unseen in a century, but time and situation are in our favor.’
Chinese diplomacy has been constant, consistent and focused on peaceful development. In the past, the U.S. and several Western countries forced China to become part of the international system; now, they try to isolate it.
If the American government and a large portion of the public think they should do nothing about health and safety until there is a crisis, then there are going to be more crises.
Government policies, market environment and expectations all impact investor decision-making. The world may take a cue from China’s economic recovery and adopt an open and cooperative attitude toward all so as to salvage the global economy.
The new era is less a rupture in time than one that aims to bridge in positive ways China’s past, present and future.
While a slump is to be expected in the short-term, attention should be paid to the strength and speed of the rebound and how Shanghai and China as a whole return to a normal trajectory.