China's Economic Challenges Beyond Covid-19

Abstract

Since 2020, the U.S.-China trade war, economic de-globalization, and global epidemic outbreak have exacerbated the instability of the external environment in China. In response, the Chinese government has put forward the dual circulation strategy, striving to activate and expand domestic markets, and combined with the new infrastructure strategy to strengthen independent technological innovation and continue to upgrade the industrial chain. Undoubtedly, the launch of the "dual circulation and new infrastructure" strategy in China means that its current economic development model will usher in a new wave of adjustments, and bring fundamental changes to the international industrial division of labor and the global economy. It is necessary to conduct an early response assessment to ensure that we can still maintain the supply chain in the process of global industrial supply chain reorganization.