China Is Loading Up a Five-Year Warning Shot to the U.S.
Whatever Beijing targets, competitors outside China will feel the pain. This time, it’s 5G and green tech.
China is targeting 5G. Anyone else in that space should brace themselves.
Photographer: China News Service/VCG/Getty
Investors are rooting for industrial companies, but China’s 14th five-year plan could bring a lot more stress to a post-Covid-19 global economy attempting a recovery. The world should watch carefully as Beijing gets ready to unveil a blueprint focused on high-tech industry.
Between trillions of dollars of fiscal stimulus, easy money and China’s broadly accelerating credit cycle, global industrial stocks have found a tailwind. Data out this week showed external machinery orders in Japan – a leading indicator of capital goods exports – rose almost 50% from August, the second straight increase that’s brought them back to pre-virus levels. All good news.