US-China Trade War: 5-year master plan ready between Trump and Dragon, how did the deal happen?

News Topical, Digital Desk : The ongoing trade tensions between China and the US show no signs of abating. Meanwhile, China's ruling Communist Party has approved the draft of the next five-year development plan. In a statement issued after the four-day meeting, China's ruling Communist Party said on Thursday that it would focus on accelerating self-reliance in science and technology.

According to the ruling Communist Party, this is a long-running effort that has become more pronounced as the US has imposed increasingly stringent controls on its access to semiconductors and other high-tech goods.

The statement, issued by China's ruling Communist Party, said China is facing "profound and complex" changes and growing uncertainty. The statement did not directly mention the trade war with US President Donald Trump. Chinese leader Xi Jinping is expected to hold talks with Trump in South Korea next week.

Countering external threats with domestic policy instruments

Gary Ng, senior economist at French investment bank Natixis, said the statement indicated the government was confident it could counter external threats with domestic policy tools. "This means China will likely demand more from the US if a deal is reached," he said.

Appointment of new General also announced

The communique also announced the appointment of a new general to replace China's second-highest-ranking general. Ng said the government is deepening its efforts to achieve technological self-reliance, income redistribution and transition to clean energy compared to plans from five years ago.

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