The Trump administration has envisioned \u201ca big, beautiful rebalancing\u201d between the world\u2019s two largest economies, a world in which the US revives its manufacturing sector and China stokes its domestic consumption to engineer a dramatic reduction in American trade deficits and mirror-image Chinese surpluses.<\/p>\n
China\u2019s Communist Party has other ideas. Its latest five-year economic plan shows that Donald Trump\u2019s dream is actually a fantasy, at least on Beijing\u2019s side anyway. Rather than prioritizing an expansion in household demand, the party has doubled down on its production-led<\/a> development model, elevating the erection of a \u201cmodernized industrial system\u201d to the No. 1 priority, up from No. 2 in the previous plan. That\u2019s according to an outline of the plan released on Thursday.<\/p>\n","protected":false},"excerpt":{"rendered":"The Trump administration has envisioned \u201ca big, beautiful rebalancing\u201d between the world\u2019s two largest economies, a world in…\n","protected":false},"author":2,"featured_media":240792,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[276,8580,45,49,48,95,14208,548,46,6501,81020,124,4495,113375,3849],"class_list":["post-240791","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-artificial-intelligence","tag-beijing","tag-business","tag-ca","tag-canada","tag-china","tag-donald-john-trump","tag-economics","tag-economy","tag-goldman-sachs-group-inc","tag-jinping-xi","tag-jobs","tag-jpmorgan-chase-co","tag-marco-argenti","tag-singapore"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/240791","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=240791"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/240791\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/240792"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=240791"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=240791"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=240791"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}