As all eyes are focused on the presidential election in America on Nov 3, another highly consequential political event will soon take place in China. In late October, the Fifth Plenum of the current Chinese Communist Party’s Central Committee will probably approve the outlines of the country’s 14th Five-Year Plan. The plan will serve as a roadmap of how China intends to adapt to a new world, one marked by growing American hostility, rapidly evolving technological disruptions and the widening impact of climate change. A new model of development is needed to confront these challenges as well as to overcome domestic headwinds such as a gradually declining labour force, rising labour and other costs, imbalances in finance and investment and still-high disparities in income and wealth.

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