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.

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.

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.

China is not signaling that it favors decoupling. The world is simply returning to the era of economic sovereignty. China must act adroitly as the world’s largest supplier goods and its biggest marketplace.

A new interpretation of China’s reform and opening-up is designed to more effectively coordinate the country’s economy with the rest of the world. The key to institutionalizing China’s domestic market is attracting more international investment.

Deng Xiaoping’s actions capitulated China into an economic superpower that is regaining wealth and power that was lost to the West centuries before. With this new abundance of wealth, China will have some consequential decisions about where to invest the wealth.

The country’s biggest risk today is economic isolation from the rest of the world. It must continue to participate actively in the world economy and contribute what it can. Total self-sufficiency is possible for China only with a decline in its standard of living.

China’s leaders are currently putting the finishing touches on the country’s 14th Five-Year Plan, which will cover the 2021-25 period. But one aspect of the plan – the so-called dual-circulation strategy – is already attracting the world’s attention. Many fear that China is “turning inward” just when the global economy is staring down the barrel of a recession. These fears are misplaced.