China is preparing for the day that America is no longer the center of world | News
China is preparing for the day that America is no longer the center of world.
China could become the world's largest economy in the next few years and it is preparing itself to transform itself in international trade.
In the midst of pandemic turmoil and tensions with the US, the Chinese government is trying hard to focus on the domestic market with a "dual circulation" policy.
"Dual circulation" is a term used to refer to two rounds of economic activity, domestic and foreign, with a greater emphasis on business development in the domestic market.
Experts are still debating whether "dual circulation" properly reflects a significant change in economic policy of China, or simply a new concept.
However, the concept was featured in recent high-level political messages, just months before Beijing planned to announce China's economic plan for the next half-decade - its fifth five-year plan. 14.
"The 'dual circulation' policy shows that China has realized it will not be able to rely on trade as much in the next two decades as it did two decades ago ... the United States increasingly sees economic cooperation. Deepening with China is a strategic mistake - which is very beneficial for China,
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