Xi Jinping's economic agenda is defined by tension between growth imperatives and security concerns. From tech regulation to supply chain policy, understanding this balance is essential for interpreting Chinese economic decisions.
The Growth Imperative
Economic growth remains essential for CCP legitimacy. Rising living standards underpin social stability, and technological advancement drives national power. Growth cannot simply be sacrificed for security.
The Security Imperative
But growth divorced from security considerations created vulnerabilities. Dependency on foreign technology, data in foreign hands, and financial exposure to external pressure all threaten the regime's autonomy and resilience.
Policy Manifestations
The tech crackdown, semiconductor self-reliance push, and dual circulation strategy all reflect efforts to rebalance toward security. Whether this recalibration undermines the growth it seeks to secure remains the key question.