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":104051,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[218,2102,72,114,11507,4990,113,9108,61,60,47466,150,1674,64174,9458],"class_list":["post-104050","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-artificial-intelligence","tag-beijing","tag-business","tag-china","tag-donald-john-trump","tag-economics","tag-economy","tag-goldman-sachs-group-inc","tag-ie","tag-ireland","tag-jinping-xi","tag-jobs","tag-jpmorgan-chase-co","tag-marco-argenti","tag-singapore"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/104050","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=104050"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/104050\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/104051"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=104050"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=104050"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=104050"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}