1. Threading the Needle: Balancing Security and Development in the 14th Five-Year Plan.
- Author
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Minxin Pei
- Subjects
- *
CALORIC content of foods , *ECONOMIC security , *INDUSTRIAL policy , *NATIONAL security , *ENERGY security - Abstract
Due to the deterioration of China's external environment in general, and its escalating tensions with the United States in particular, the Chinese government has readjusted its economic development strategy. As delineated in Beijing's 14th Five-Year Plan, which was unveiled in mid-March of this year, China will invest in efforts designed to strengthen its economic security and better protect its economy from external economic threats. These initiatives include science and technology self-sufficiency, secure supply chains in its manufacturing economy, growth sustained by domestic demand, and food and energy security. Although these efforts seem attractive on paper, China will likely encounter immense challenges in trying to implement its new development strategy. Chinese leaders may have underestimated the potential costs of strengthening national security at the expense of global integration. Beijing's disappointing records in executing industrial policy and rebalancing its economy also raise doubts whether it will be able to meet its ambitious goals. [ABSTRACT FROM AUTHOR]
- Published
- 2021