China's new Five-Year Plan focuses on self-reliance more than any other since its reform and opening up began. But unless the government recognizes the limits of authoritarianism, top-down directives, and social control, it is likely to stifle innovation and fall far short of its ambitious development goals.
LONDON – This year’s meeting of China’s legislature, the National People’s Congress, was one of the most important in recent times. China is facing its most hostile external environment in decades, with a growing number of countries pushing back against its political repression and coercive diplomacy. And the imperative of reshaping its economic-development model is more urgent than ever. While China’s leaders now shun all mention of the so-called middle-income trap, their determination to avoid this looming threat is clear.
LONDON – This year’s meeting of China’s legislature, the National People’s Congress, was one of the most important in recent times. China is facing its most hostile external environment in decades, with a growing number of countries pushing back against its political repression and coercive diplomacy. And the imperative of reshaping its economic-development model is more urgent than ever. While China’s leaders now shun all mention of the so-called middle-income trap, their determination to avoid this looming threat is clear.