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Opinion
Letzte Aktualisierung: April 15, 2021

China's economic self-harm

By Minxin Pei
Minxin Pei

Beijing is threatening to miss its targets in the current five-year plan if it continues to take a hard line against the West – not only against the US but also against other countries. The example of H&M shows how interdependent China is on the West, especially when it comes to domestic jobs.

Early last month, China’s rubber-stamp legislature, the National People’s Congress, officially approved the country’s 14th Five-Year Plan. The strategy was supposed to demonstrate that China has a long-term economic vision that will enable it to thrive, despite the country’s geopolitical contest with the United States. But before the ink on the NPC’s stamp could dry, China had already begun sabotaging the plan’s chances of success.
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