China press review
China’s advanced manufacturing upgrade backed to gather pace, driven by top priority status in five-year plan: Beijing outlined a comprehensive plan to upgrade its manufacturing capabilities by 2025 via eight priority areas, including robotics, aircraft engines, new energy vehicles and smart cars.
China will not beat the United States in per capita GDP for 50 years. Then the statistics determine, the economist judges: Long after China surpassed the United States and became the world’s largest economy, the United States will still be 50 years richer than China.
Can China prevent a US-style collapse of its manufacturing sector? Manufacturing’s contribution to GDP has been in free fall since 2006 and alarm bells are starting to ring, experts say. Beijing should learn a lesson from the demise of America’s industrial sector, they say.
China’s Vision 2035: From Beijing’s Forbidden City to Interconnected Eurasian Megacity: China’s Vision 2035 involves the country developing megacities that will help foster stronger regional trade and investment partnerships with ASEAN, the Belt & Road region, as well as developing economies across the world.
U.S. tells China it does not seek conflict, but will stand up for principles, friends: The Biden administration began its first high-level in-person talks with rival China on Thursday, saying that Chinese actions threaten a global order based on rules and vowing that Washington would also stand up for its friends.
China making strides in Industry 4.0 revolution as advanced manufacturing outpaces EU, US, Japan: Bosch Automotive Products, Foxconn Technology Group, Midea Shunde, Tsingtao Brewery and Wistron InfoComm Manufacturing added to list of cutting-edge advanced manufacturing facilities.
Podcast : Essential Geopolitics: Is China’s Economy as Strong as It Lets on?
In an analysis for Stratfor Worldview in March, Stratfor senior analyst for global economics at RANE Michael Monderer wrote that “China’s continued high rate of fiscal stimulus doesn’t match up with the narrative that its economy has recovered from the COVID-19 crisis.”
Mainland growth target not too low, says Le Keqiang: Premier Li Keqiang on Thursday defended the government’s target for more than 6 percent economic growth this year, saying it is “not low”, and policies would not be dramatically loosened to chase higher growth.
China Has Set Modest Economic Growth Targets: Setting modest economic growth targets, thwarting U.S. sanctions, controlling Hong Kong elections—these were the leading issues presented over the last several days at China’s largest annual gathering of legislators.