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The Chinese authorities made it clear that they do not want to completely sever economic ties with the United States
US pressure on Chinese tech companies has given some experts a feeling that countries will increasingly isolate themselves from each other in technological development, creating parallel and independent ecosystems. Representatives of the PRC said this week that the country’s authorities are not seeking a complete breakdown of economic ties with the United States, and it would not have been possible.
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All this does not prevent China from reducing the degree of dependence on imported goods. According to official statistics, the ratio of the gross national product of the PRC and imports of goods in recent years has decreased from 60 to 30%. At the same time, in the third quarter of this year, foreign trade with the United States even increased by 16%, although the sanctions were in full swing, and the pandemic added logistical problems. “The overwhelming majority want the severance of economic ties with the United States in the Chinese power structures,” said Han Wenxiu, a spokesman for the Chinese Communist Party.
In the next five years, the PRC plans to maintain an emphasis on stimulating domestic demand with the support of Western investment. Priority will be given to the development of the automotive industry, contactless technologies in trade and document flow. From 2021 to 2021, per capita income in China increased by an average of 6.5% annually, and the number of middle-class Chinese people has quadrupled since 2021 to 400 million. Isolating China will not benefit anyone in the world, according to the country’s ruling party.