"The Central Committee of the Communist Party of China (CPC) convenes behind closed doors in Beijing this week for its fourth plenary session, with charting a five-year plan for the country's social and economic roadmap topping the agenda. Right now, there are many structural issues with the economy that need to be addressed, and analysts say Chinese policymakers are balancing efforts to spark consumer spending, while at the same time stimulating growth for developing high-tech industries."
"For decades, the world's second-largest economy has been driven by export trade and infrastructure investments, while the third pillar, domestic consumption, has been neglected. As China's export and infrastructure engines sputter, stimulating domestic consumption has taken on more urgency. "The mood among private families and consumers in China is very gloomy," said Alexander Brown, a China analyst from the Mercator Institute of China Studies (MERICS), a Berlin-based think tank."
"One of the top strategic challenges for Beijing coming from the United States under President Donald Trump is access to advanced semiconductor technology, critical to powering AI-based strategic industries. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video The most advanced chips continue to be built by US firms like Nvidia, which has been at the center of on-and-off controls on the processing power of chips that can be delivered to the Chinese market. For China, developing semiconductor sovereignty is critical."
The Central Committee of the Communist Party of China is meeting in Beijing for a fourth plenary session to set a five-year social and economic roadmap. Structural problems in the economy require addressing, with policymakers trying to boost consumer spending while also stimulating high-tech industry growth. For decades exports and infrastructure investment drove growth while domestic consumption lagged; weakening export and infrastructure engines make consumption more urgent. Private consumer mood is gloomy, yet Beijing plans to prioritize industrial policy to build resilience. Access to advanced semiconductor technology is a strategic challenge; the most advanced chips are produced by US firms, making semiconductor sovereignty critical.
Read at www.dw.com
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