China Pushes for Self-Reliance Ahead of US Talks

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Transcript

00:00It's a critical period for China as it prepares for high-stakes talks with the US next week.

00:05Ahead of those discussions, one of China's most important political meetings, the so-called Fourth Plenum, took place over four days.

00:11It gave insight into what President Xi Jinping and his government are looking to prioritize while locked in a trade war with the US.

00:18Topping the agenda, China called for more self-reliance to technology and vowed to increase advanced manufacturing.

00:24This could be a way to counter-efforts by the US to curb the export of advanced chips to China as both rivals compete for leadership in AI.

00:32Authorities also repeated a pledge to boost domestic consumption.

00:36They're counting on increased demand at home to rebalance the economy, which has been heavily reliant on exports for growth.

00:42Broadly, the Plenum signal as well that China will continue to rely on industrial production and exports to drive growth.

00:48However, that model will likely remain a source of geopolitical friction around the world as Chinese exports flood the market.