Weblog with daily updates of the news on a frugal, fair and beautiful China, from the perspective of internet entrepreneur, new media advisor and president of the China Speakers Bureau Fons Tuinstra
Mark Schaub (right top) discusses supply chains in China
Lawyer and China veteran Mark Schaub looks at how foreign firms have been sourcing in China over the past 20 years, and how supply chain challenges developed, at the latest webinar of his law firm KWM. “The real market is now the domestic market,” he says.
China is drawing its future, including becoming the world’s largest economy by 2035. China watcher and CFR-scholar Ian Johnson looks at the CFR website at the decisions taken at the November 2021 Plenum of the Communist Party, as the country prepares for its party conference in 2022 with a new 5-year plan.
Ian Johnson:
China will be even more self-confident with Xi firmly ensconced as leader for the foreseeable future. The question is what Xi wants to accomplish to leave his mark on this era. Xi has already overseen a more robust Chinese foreign policy. Under his watch, China has expanded its massive Belt and Road Initiative to expand its economic influence abroad. It has also pushed further into the South China Sea, claiming shoals and reefs are its territory and building them out into islands.
But two other goals loom, both of which will affect foreign countries, including the United States. One is the party’s goal of making China a prosperous society by 2035. That means having the world’s biggest economy and a per capita gross domestic product (GDP) of about $25,000. That would have implications for the United States: China would be a true economic equal as well as a country with greater business opportunities.
China’s leadership is this week drafting its new 5-year plan. Financial analyst Sara Hsu expects an ongoing shift from an export-driven economy to more domestic consumption, she tells at CNBC International. “China realizes it cannot rely on export as it did in the past,” she says.
