(Lingling Wei & Bob Davis – Wall Street Journal)
China plans to replace an industrial policy savaged by the Trump administration as protectionist with a new program promising greater access for foreign companies, according to people briefed on the matter, in a move to resolve trade tensions with the U.S.
China’s top planning agency and senior policy advisers are drafting the replacement for Made in China 2025—President Xi Jinping’s blueprint to make the country a leader in high-tech industries, from robotics to information to clean-energy cars. The revised plan would play down China’s bid to dominate manufacturing and be more open to participation by foreign companies, these people said.
Current plans, these people said, call for rolling out the new policy early next year, a time when the U.S. and China are expected to be accelerating negotiations for a deal to end their bruising trade battle. Click here to read more.
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- Cramer: China May be Recognizing That Revealing Its ‘World Domination’ Plan Was a Bad Idea (CNBC)
- China Looks Like It’s Going to Give Trump a Huge Symbolic Trade War Win, Fueling Hope for a Big Deal (Business Insider)