Building on China’s success in getting its economy back up and running after the coronavirus pandemic, the government will push ahead with plans to create more secure trade links with other countries in response to the United States’ ongoing attempts to economically decouple the world’s two largest economies.
The new trade strategy, released this week by the State Council, the government cabinet, does not mention the United States directly, but its strong focus on expediting new trade agreements with other countries and cultivating conditions to tap into new foreign markets underscores Beijing’s growing preoccupation with realigning its economic sphere of influence because of the increasing rivalry with Washington.
But analysts continue to question whether the strategy can succeed unless China fundamentally reforms the access that foreign firms have to its domestic economy and increases the ability of firms and investors to move money into and out of the country.
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