Research on the Impact of China's Dual Circulation Economic Strategy on Corporate Restructuring & Countermeasures in the Context of the US-China Game in the Post-Epidemic Era

Abstract

As globalisation accelerates and deepens, the competition between China and the US in the 'global governance system' (GGS) becomes more intense. China's activism during the epidemic effectively filled the gap in global leadership created by the US government's belated, reckless, and misguided policies on preventive measures. Nevertheless, the epidemic has also exposed the Chinese industrial chains lack of resilience and government intervention in corporate planning. In response to China's growing economic and political power, the US, under the Trump and Biden administrations, has begun to promote reverse globalisation and hopes to limit the growth of Chinese companies through economic and technological decoupling from China (US-Sino decoupling). With the US unilateral decision to decouple, if the Chinese government does not regulate it through policy promptly, it could significantly impact the global supply chain and its own companies. Therefore, in the context of US-Sino decoupling, Chinese companies in the post-epidemic era must improve their own supply chain resilience and reduce the intensity of conflict with the US. This paper will use case studies and comparative analysis to explore the main problems China faces from the experience of other middle-power countries in their economic recovery against US economic sanctions and to provide effective countermeasures for implementing this objective in the context of a dual circulation economic strategy.