Xi Seeks to Ease Concerns That China’s Economy Is Turning Inward
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President Xi Jinping speaks via video at the China International Import Expo in Shanghai on Wednesday. His speech would be hours after polls close in the U.S.
Source: AFP via Getty ImagesChinese President Xi Jinping tried to re-assure international businesses that the nation is committed to open trade, amid concerns that the new ‘dual circulation’ strategy will mean the world’s second-largest economy is set to become more insular.
China’s new development structure is “definitely not a closed domestic circulation, but a more open dual circulation between overseas and domestic markets,” Xi said at the opening of the China International Import Expo on Wednesday in Shanghai. The strategy won’t only address China’s own demand for growth, “but will also bring benefits to all countries around the world.”