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“Internal economic circulation” will send China back 40 years
Xi Jinping, the General Secretary of the Chinese Communist Party, recently emphasized the idea of “internal economic circulation,” meaning having domestic sectors provide all the goods needed for Chinese consumption, from raw materials to manufacturing. This sparked public concern. Experts believe that the majority of people in China have limited income and purchasing power, and if the CCP wants to emphasize on domestic circulation to save its economy, then China may return to the “state of closure” from 40 years ago.