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Economics

China’s New Growth Plan May Push Economy Past U.S. Within Decade

  • Communist Party to agree new five-year plan, 15-year roadmap
  • Latest blueprint comes in period of heightened U.S. tensions
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Watch: Officials of China's Communist Party gather in Beijing this week to map out the next phase of economic development. (Source: Bloomberg)
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President Xi Jinping opened a meeting in Beijing this week to map out the next phase of economic development, just days before one of the most contentious U.S. elections in history will produce a president resistant to China’s ascent no matter who wins.

The country’s 14th five-year plan is expected to center around technological innovation, economic self reliance and a cleaner environment. Communist Party officials will also set goals for the next 15 years as Xi seeks to deliver on his vow for national rejuvenation by gaining the global lead in technology and other strategic industries. The meeting is closed to the press, and key decisions likely won’t be made clear before it wraps up on Thursday.