China-US rivalry is main challenge to Asian giant’s development, NDRC says

But time is on China’s side, the National Development and Reform Commission says in report

‘China will have to seek development in an ever more unstable and uncertain world,’ it says

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The US is the biggest external threat to China’s development, the NDRC says. Photo: Shutterstock

Published: 9:30am, 29 Oct 2020Updated: 9:30am, 29 Oct 2020

China’s rivalry with the United States will be the “biggest external uncertainty” that restrains its medium- and long-term development but “time is on China’s side”, the country’s top economic planning agency said in its assessment ahead of this week’s key meeting in Beijing to chart the future course of the world’s second-largest economy.

“China will have to seek development in an ever more unstable and uncertain world,” it said.

The assessment, completed in August and written by department chiefs and research heads, is part of the National Development and Reform Commission’s (NDRC) official planning compendium released late last month.

The compendium provides the detailed thinking of how Beijing sees China’s increasing confrontation with the US and its impact on the Chinese economy, as well as the country’s rejuvenation.

Party elites will close their annual plenary meeting in Beijing on Thursday and are expected to approve the outline of the 14th Five-Year Plan and the country’s long-term development goals, through 2035. Both documents are expected to be released soon.

China-US rivalry is main challenge to Asian giant’s development, NDRC says

But time is on China’s side, the National Development and Reform Commission says in report ‘China will have to seek development in an ever more unstable and uncertain world,’ it says

But time is on China’s side, the National Development and Reform Commission says in report

‘China will have to seek development in an ever more unstable and uncertain world,’ it says