In China's Fourteenth Five-Year Plan for the 2020-25 period, President Xi Jinping outlined a new and bold economic policy move - moving away from a four-decade policy of fundamental reforms and opening to the idea of "dual circulation", comprising domestic consumption and international trade and investment.
Unlike the previous focus on export-driven production, under which the country became known as the “world’s workshop”, the new policy prioritizes rebalancing in the home market while remaining open to the flow of external goods and funds
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