How China Can Reach its Centennial Goal
The focus on exports has undoubtedly served China well over the last four decades. But the key to achieving President Xi Jinping's goal of creating a “great modern socialist country” by 2049 will be unleashing the potential of China’s domestic market, especially by eliminating institutional barriers to the growth of private enterprises.
SHANGHAI – Two years ago, Chinese President Xi Jinping declared that by the time the People’s Republic celebrates its centenary in 2049, it should be a “great modern socialist country” with an advanced economy. To achieve this ambitious goal, China will need to secure another three decades of strong economic performance and inclusive development. The question is how.