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China’s growth strategy reflects longer US rivalry, economist says
The analysis argues Beijing has shifted away from a short-term GDP focus toward policies meant to reduce technology dependence and sustain industrial capacity.
A SCMP Economy analysis frames China’s slower-than-expected economic policy response as a strategic choice rather than paralysis, arguing that Beijing believes it is treating a different underlying problem than Western economists diagnose.
It says Western views often emphasize weak consumption, a prolonged property downturn, deflationary pressure, a large trade surplus, and stressed local government finances, with suggested remedies centered on boosting household income, strengthening the social safety net, and reducing reliance on investment, exports, and manufacturing.
In contrast, the article says China has moved in some of those directions but not with the scale outsiders expect, and interprets that gap as part of a broader preparation for prolonged strategic rivalry with the United States.
Seen through that lens, SCMP Economy argues China is working to reduce technological dependence, preserve industrial capacity, and better withstand longer Western pressure, with GDP still important but no longer the sole guiding objective.