While Trump Shoots Himself In Foot China Sets Course for 2019
By Colonel Awadhesh Kumar, Special Forces Veteran
While US President has fired a shot and injured himself in foot by declaring a Trade War against China, Li Wei, head of the Development Research Centre of the State Council of China has clearly outlined the Chinese goal for 2019. The Economic Plan has been set after careful study by the Political Bureau of the Communist Party of China Central Committee.
Chinese have assessed that they have a steady and upwards moving Economic Fundamentals, all favourable and thus have set their goals accordingly.
All risks have been assessed and the Chinese feel that these challenges can be handled to its advantages while maintaining stable growth.
For the year 2019, after verifying the encouraging trends which have exceeded expectations,, they have no doubts that China will fulfill the growth target of 6.5%.
Country’s top Economic Planning body, the National Development and Reform Commission have already approved 13 fixed asset investment projects which entails investment expenditure of 24.2 billion YUAN or roughly 25000 Crores INR. Most of the projects are in high tech machinery, infrastructure and transportation sectors.
Chinese have assessed, and this has been on ground personally, that Chinese Economy was being increasingly driven by local consumption with less reliance on international trade.
In fact, if both China and India realise the importance of strong bilateral trade and the untapped potential of domestic consumers on either side of Himalayas, then the rest of the so called developed World can be simply ignored.
Development of high quality infrastructure and high quality manufacturing must be coupled with cultivating a strong domestic market, speeding economic reforms and opening up.
