China’s political elite will face a number of challenges when they gather in Beijing next month for the year’s biggest legislative set piece – the meetings of the National People’s Congress and the Chinese People’s Political Consultative Conference, informally known as the “two sessions”. In this latest part of a series looking at the key items on the agenda, we examine the country’s trade ties and challenges.To get more news about NPC, you can visit shine news official website.
The history of global trade is littered with all kinds of conflicts, but few stand out like the one China finds itself in now.
As China’s political elite ready themselves for next month’s meeting of the National People’s Congress, the country’s legislature, they are faced with a trade environment that has no precedent, according to industry experts.
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In the past three months, China has managed to sign three trade pacts while still embroiled in conflicts with some of its fellow and associated trade pact members – namely Australia, the United States and the UK.
The contradiction could signal that, despite political differences, many countries understand that having China as part of their trading equation can be advantageous, given China’s manufacturing capabilities, experts say.
It also suggests that trade – as much as it can be a pawn in geopolitical conflicts – can have its own lifeline, especially when global supply chains are already intricately linked with China as the “world’s factory”. The current paradox is also likely to continue as China seeks to secure more deals – not just for trade, but as part of its geopolitical strategy, the experts add.