"
Double circulation economy
".
Since the appearance of this jargon in early May in official speeches, economists have been trying to understand what is behind this slogan, which is already well anchored in Chinese political language.
The phrase sums up the solution put forward by China to respond to both the global economic slowdown and the growing hostility it faces on the international stage.
Read also:
The great turnaround in relations between Europe and China
Officially, Beijing's aim is to refocus its economy on the interior of the country and develop household consumption, while exporting products that go upmarket.
An equation which in theory promotes both the inside and the outside (the "double circulation"), except that for now, the emphasis is clearly on the internal market.
“
It's a new concept that puts the emphasis on the domestic economy and aims to get rid of external dependence and global production chains
,” explains Allen Feng, economist for Rhodium Group.
"
The environment
This article is for subscribers only.
You have 81% left to discover.
Subscribe: 1 € the first month
Can be canceled at any time
Enter your email
Already subscribed?
Log in
/cloudfront-eu-central-1.images.arcpublishing.com/prisa/GJCBMBH57MQHVYCI4ZPKB6IKRI.jpg)
