Economic Affairs: China's new rebalancing act

Switching to a more domestic focus could be challenging, but the country has options on the export side

As globalisation beats a retreat, China is refocusing its economic strategy to accommodate the new reality. The changes that it makes could have far-reaching effects for its trade partners and foreign investors and, most of all, for its own economy and society.

The new economic buzz phrase in China today is the "dual circulation strategy", which is being mentioned with growing frequency in speeches by Chinese officials, economic studies and media reports. The concept first appeared in the reports of a meeting of the Chinese Communist Party's Politburo in May.

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A version of this article appeared in the print edition of The Straits Times on September 23, 2020, with the headline 'China's new rebalancing act'. Print Edition | Subscribe