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Will Xi’s bet on China’s domestic market pay off?
On 19 November 2020, China’s President Xi Jinping used the aegis of the Asia-Pacific Economic Cooperation (APEC) CEO Dialogues to signal an important recaliberation of his nation’s economy. The contours of the ‘dual circulation’ system that has been talked about in Chinese media are becoming a bit clearer. Since Deng Xiaoping took over and adopted the policy of ‘opening up and reform,’ the People’s Republic became the second largest economy in the world in the last three decades by leveraging its model as a net exporter of goods. Under Xi, China’s planners seem to have come to the realisation that ... (full story)