A temporary calm in U.S.-China trade war
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China moves towards a new five-year plan, the planned system that went from the great famine to eradicating extreme poverty
In the 1950s, the focus was on building factories. In the 1980s, it was about economic reform. In the 2000s, it was about opening up to the world. And now, it's about embracing technological self-sufficiency.
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COMMENT: China’s latest economic conquest – Central Asia
By Mark Buckton - Taipei China’s engagement with Central Asia has long been framed in sweeping historical terms of caravans, silk, and imperial envoys threading their way between the iconic Xi’an and Samarkand.
The recently concluded Fourth Plenum Session of the Communist Party of China approved the draft proposal for the 15th Five-Year Plan, setting the strategic direction for China’s next stage of development.
President Trump met with President Xi on the sidelines of the Asia-Pacific Economic Cooperation summit last week. APEC's host, South Korea, is carefully balancing its relations with the U.S. and China.
Trump flew back to Washington on Thursday after talks with Xi in South Korea in which the American president agreed to cut tariffs on China in exchange for Chinese action to crack down on the drug fentanyl trade, resume buying U.S. soybeans and keep rare earths exports flowing.
Strengthening the financial sector is therefore integral to building an economic powerhouse. Among the six key pillars of a financial power, a strong currency ranks first.
China's Communist Party elite vowed on Thursday to build a modern industrial system and make more efforts to achieve technological self-reliance, moves it sees as key to bolstering its position in its intensifying rivalry with the United States.
"Perhaps of greatest concern for China is the software used in advanced manufacturing – Western companies control over 70% of the Chinese market for chip design software, for example."
China's top leadership has pledged to build an immigration system to lure foreign talent in a move that may help increase its competitiveness amid the ongoing technological competition with the United States.
Amid skyrocketing demand for artificial intelligence systems, the chip-making giant has been thrust into the economic feud between Beijing and Washington.
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