XIV Social Economic Development Plan 2021-2025: Challenges for the New Model of Economic Development of China

Abstract

This article analyses the renewed economic development strategy called dual circulations in China from the points of view of the economic development theories, proposed for the xiv Social Economic Development Plan 2021-2025. The analytical methodology is carried out by two perspectives: a retrospective, which reviews the Chinese economic evolution status quo during the last 40 years, and the prospective one, that shows how the trading frictions between China and the United States and Covid-19 have reinforced and as the self-conscious, the Asia country, to adjust its economic development model and the future economic growth projections. It is hypothesized that China will achieve its economic development goals not only in the medium but in the long term through the application of the dual circulations´ orientation. For this reason, the work will hope to have a contribution to the theoretical debates before the urgency for the underdeveloped nations to look for alternatives with the purpose to fulfill the desired economic development objective.