In a strategic pivot designed to safeguard China’s economic stability amid escalating global uncertainties, Chinese Communist Party (CCP) leader Xi Jinping is advancing an economic model aimed at bolstering national self-sufficiency and resilience. This shift, documented in a recent study, underscores Beijing’s ambition to fortify its economy against external shocks, including geopolitical conflicts and global pandemics.
The report, released on July 30 by Jimmy Goodrich, a fellow at the University of California Institute on Global Conflict and Cooperation, delves into official CCP speeches and policy documents. It provides an in-depth analysis of the Party’s progress in implementing its “fortress economy” policy across several critical sectors.
“[The strategy is] designed to bolster national self-sufficiency and resilience against external shocks, and ultimately allow the nation to withstand ‘extreme situations’ including protracted armed conflict,” the paper asserts.
The impetus for this strategic shift can be traced to a series of global upheavals. Rising tensions between the U.S. and China, the Russian invasion of Ukraine, and the far-reaching disruptions caused by the COVID-19 pandemic have collectively underscored the vulnerability of interconnected global supply chains. These events have prompted Beijing to recalibrate its economic priorities, focusing on reducing dependency on foreign markets and enhancing domestic economic capabilities. […]
– Read More: www.zerohedge.com
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