China’s ‘dual-circulation’ strategy to reduce reliance on overseas markets is not new, says veteran China observer Michael Pettis. Photo: Tom WangChina’s ‘dual-circulation’ strategy to reduce reliance on overseas markets is not new, says veteran China observer Michael Pettis. Photo: Tom Wang
China’s ‘dual-circulation’ strategy to reduce reliance on overseas markets is not new, says veteran China observer Michael Pettis. Photo: Tom Wang

Is China’s ‘new’ strategy of economic self-reliance just a rehashing of an old idea? This long-time China watcher thinks so

  • China’s ‘dual-circulation’ strategy to reduce reliance on overseas markets dates back to the late 2000s, says veteran China observer Michael Pettis
  • But boosting domestic consumption and sustaining production will need substantial productive investment, something that will be ‘difficult’, Pettis says

Topic |   China economy
China’s ‘dual-circulation’ strategy to reduce reliance on overseas markets is not new, says veteran China observer Michael Pettis. Photo: Tom WangChina’s ‘dual-circulation’ strategy to reduce reliance on overseas markets is not new, says veteran China observer Michael Pettis. Photo: Tom Wang
China’s ‘dual-circulation’ strategy to reduce reliance on overseas markets is not new, says veteran China observer Michael Pettis. Photo: Tom Wang
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