How China is preparing its economy for a future where the U.S. isn’t the center of global demand
2020-09-01 09:15:25 source：CNBC
August 31, 2020
China will likely become the world’s largest economy in a few years and it is preparing itself for major shifts in international trade.
In a world rocked by the coronavirus pandemic and tensions with the U.S., the Chinese government has come out with yet another batch of policy terms to bolster its own economy, this time under the vague umbrella of “dual circulation.” The phrase refers broadly to two circles of economic activity — internal and external — with greater emphasis than before on business at home.
The jury is out on whether “dual circulation” reflects a major change in Beijing’s economic policy, or how new the concept is at all.
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