China's economic strategy: when theory meets practice

Abstract

In the recent years, the Chinese government under Xi Jinping's leadership has outlined an ambitious economic strategy for China, manifested in the following four key elements: further reform towards the marketisation of its economy, ‘Made in China 2025’, the mega project BRI, and a new model of China–US relations. However, there are severe contradictions between these elements and China has also met many challenges internally and externally when implementing this strategy. After discussing those challenges, this article makes a recommendation for China's strategic direction of its national development in the short term.