How have China’s 5-year plans shaped its economic trajectory?
Though China moved away from a command economy decades ago, its successive five-year plans have remained a pillar of macroeconomic policymaking.
Despite that seeming contradiction, under the 14 plans implemented since 1953, Beijing has turned what was a limited industrial capacity into a scale of mass production that has earned China a reputation as the “world’s factory.”
Beijing is now endeavouring to move higher in the value chain and become a global hub for innovation in cutting-edge sectors...
