Economic Affairs

China's vision of its future - will it make right choices?

China’s next development plan is a response to external and internal challenges that also carries an ambition to double the size of its economy

The framework proposal of China's 14th Five-Year Plan that was unveiled in October bears the marks of China's response to the US' policy towards it, as well as the overall external environment. PHOTO: AFP

When the drafters of the 14th Five-Year Plan for China's economic and social development first sat down to the task two years ago in 2018, the Asian economic giant was beginning to feel the heat from the United States.

That was the year the trade war between the world's two largest economies began in earnest, with the US slapping additional tariffs ranging from 10 per cent to 25 per cent on more than US$250 billion (S$336 billion) worth of Chinese goods that it imported.

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