Decoding China’s “Dual Circulation” Strategy
Since May, when China's central leadership started referring to a "new development pattern," there has been much speculation about whether the country is embracing an entirely new economic model. In fact, the government is merely describing changes that have already happened.
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BEIJING – In May, China’s central leadership proclaimed that it would “fully develop the advantages of [the country’s] super-large market and the potential for domestic demand to establish a new development pattern featuring domestic and international dual circulations that complement each other.” “Dual circulation” has been the subject of intense discussion within and outside China ever since.