The agreement marks the emergence of constructive rules for the entire East Asia region. The parties no longer look to the Trans-Pacific Partnership, with its burdensome provisions, as a model template.

Be prepared, be equipped, no decoupling, no dependence — these are the keys to dual circulation. China’s development is entering a new period in which it will change its way of influencing the world. Tremendous opportunities will come for all.

By keeping the CIIE open as other expos closed their doors in the face of the pandemic, China demonstrated its commitment to an open economy and its desire to share the country’s huge domestic market.

China’s 14th Five-Year Plan and vision for 2035 are logical and achievable under the leadership of the CPC. The recently adopted national development proposal lays out a clear road map.

Removal of institutional barriers, more transparency in domestic rules and a free flow of goods and services and factors of production will allow China to develop its gigantic market to its maximum potential.

As the United States repeatedly weighs in to block reasonable reforms and interfere with long-standing, consensus-based processes, China is on another track. It knows that reforms are needed and is working constructively to realize them.

The People’s Bank of China is pressing forward with a digital yuan, which leaves China’s digital currency plans significantly ahead of western nations’. While the U.S dollar has dominated global trade since WWII, the yuan, whether digital or analog, will have a leading role in challenging the hegemony of the dollar.

Just as China led the world in economic recovery in the aftermath of the global financial crisis of 2008, it is playing a similar role today. Its post-COVID rebound is gathering momentum amid a developed world that remains on shaky ground. Unfortunately, this is a bitter pill for many to swallow – especially in the United States, where demonization of China has reached epic proportions.

Interwoven interests with the United States are a Gordian knot that cannot be cut without doing serious harm. Alarm bells are ringing in Washington.

This round will have special significance for the nation’s development and the world. China will achieve socialist modernization by 2035 while becoming an increasingly important part of a diverse global landscape.