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Xi wants China’s economic destiny in the hands of Chinese consumers

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Analysis. The Chinese president is laying the groundwork for a new five-year plan focusing on the internal market and technological self-sufficiency, shifting China from a place of production to a place of consumption.

written by Simone Pieranni

Topic China

October 17, 2020

On the occasion of the 40th anniversary of the establishment of the first Special Economic Zone, Chinese President Xi Jinping traveled to Guangdong and Shenzhen, symbols of Deng Xiaoping’s “reform and opening.” However, Xi went to the south of the country not only to celebrate, but also, most likely, to deal a deathblow to the process that has led to the creation of China as the “world factory.” The new watchword is “dual circulation,” which, in translation, means focus on the internal market and autarchy.

Xi said it clearly: “It is necessary to promote the formation of a new development model, in which the........

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