WHAT YOU NEED TO KNOW:
- On his rather unusual optimistic statement, Chinese President Xi Jinping says the country is on the road to economic recovery.
- In contrast, the U.S is in turmoil amidst the recent violence at the Capitol and the rising new coronavirus cases.
- Last month, the Centre for Economics and Business Research said that China would outclass the U.S. as the leading global economy by dollars in 2028.
President Xi Jinping released a remarkably optimistic valuation about the future of China, mentioning that the time and the odds were now in favor of the nation, as the U.S faces the new year with chaos.
The Chinese president spoke during an assembly of regional and local-level authorities on Monday, saying that he foresees “opportunities in general outweighing challenges,” a status change from his occasionally distressing cautions of the last few months.
While he frequently cited President Donald Trump’s “America First” programs, he was confident that China would benefit in the future.
Official outlet Xinhua News Agency reports that Xi told the study conference at Community Party School that
“The world is undergoing profound changes unseen in a century, but time and the situation are in our favor,”
adding that the country’s purpose and confidence came from those observations.
Xi’s positive comments were following the economic recovery of the nation and turmoil in Washington. Other than the rioting in the Capitol the previous week and the surge of COVID-19 outbreak in America, a projection published by the Centre for Economics and Business Research last December projected that China would outdo the U.S. as the biggest economy worldwide in terms of dollars by 2028, five years earlier than they have initially estimated just a year ago.
In a related comment in 2020, Xi underscored the exceptional dangers and difficulties as the pandemic plagues China and bilateral relations with the U.S. worsened, with disagreements for almost everything from the outbreak and commerce concerns with Hong Kong and Taiwan.
On Monday, Xi advised provincial officers, who will be signing a new series of five-year policies at their yearly lawmaking hearings, to continue being under alert and modest, as reported by Xinhua. He added that hard work was needed to develop alertness of impending dangers, noting that officials should plan for all scenarios and adapt to more difficult circumstances.
The lawmaking assemblies are part of series of greater events as Xi gets ready to commemorate the centennial anniversary of the reigning party’s establishment in July. The Chinese president also restated his plans in making the country more self-reliant in terms of technological advancement while creating a “super-sized” national market to increase sales.