The Intelligence from The Economist What Xi said: China’s five-year plan
Oct 29, 2020
Simon Rabinovich, Asia economics editor based in Shanghai, discusses China's ambitious five-year plan and its implications for Xi Jinping's future leadership. Avantika Chulcotti, international correspondent, explores how the pandemic has reshaped discussions around mortality, highlighting trends like forest burials and death cafes. Charlie McCann, Southeast Asia correspondent, sheds light on the pressures faced by Singapore's hawker culture as young chefs battle to keep their culinary heritage alive amid modern challenges.
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China's Five-Year Plan
- China's Fifth Plenum sets five-year goals and reveals clues about Xi Jinping's leadership.
- The plan must address a COVID-battered world and trade tensions with the U.S.
Evolution of Five-Year Plans
- China's five-year plans, inherited from the Soviet Union, used to be rigid production quotas.
- They've evolved into flexible guides, resembling election manifestos for the ruling party.
China's Growth Target
- China's previous five-year plan aimed for 6.5% annual growth but fell short due to COVID-19.
- The next plan will likely target around 5% growth due to a hostile external environment.