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March 29, 2024
Focus This Week
A community space to discuss the China-U.S. relationship and beyond.

Dear Focus Reader,

Representatives from more than 20 Asian countries convened in Hainan, China, for the Boao Forum this week, addressing global and regional economic objectives. During the event, Chinese official Zhao Leji expressed China's ambition to play a pivotal role in driving global economic recovery in 2024, and outlined plans to further open up Chinese markets to foreign investors and prioritize high-quality growth, with a particular focus on technological innovation.

Zhao, who serves as chairman of the Standing Committee of the National People's Congress, also highlighted China's willingness to collaborate with other nations on technology and economic development.

The forum was the latest in efforts by Beijing to reassure foreign investors amid concerns about policies that have raised uncertainties regarding foreign businesses, geopolitical tensions, and economic recovery.

It also followed recent engagements between Xi Jinping and American CEOs on Wednesday in an attempt to boost confidence in China's economy. Participants included Blackstone founder Stephen Schwarzman, Bloomberg Chair Mark Carney, and FedEx President Rajesh Subramaniam. At the meeting, Xi emphasized that the economy was "healthy and sustainable," an achievement that "cannot be separated from international cooperation."

While some American analysts view the meeting as progress in the relationship, others have flagged the lack of diversity in gender, ethnicity, and age, and said the U.S. business leaders present didn't represent the true range of expertise or policy perspective on China in the U.S.

Stay up to date on the latest in China policy by catching up on Focus content, including topics on China-U.S. relations, China's economy, and China's relationship with Southeast Asia.

Focus Insights
Quote of the Week
"Countries such as the Philippines, however, are increasingly feeling the pressure to choose sides. After initially hoping for a 'new golden era' with China, Philippine President Ferdinand Marcos Jr. has gradually tilted towards traditional allies and partners."
Richard Heydarian
Professorial Chairholder in Geopolitics, Polytechnic University of the Philippines

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Notable Number

China's general expenditures in 2024 will be 28.5 trillion yuan, an increase of 1.1 trillion yuan over the previous year.

Learn more in "China's Economy Remains on Right Track," by Zhang Yansheng, Chief Researcher at the China Center for International Economic Exchanges.

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Question of the Week:

In our Focus Insights section, we shared an article by Sun Chenghao, a CISS Fellow at Tsinghua University, where he delves into the present state, challenges, and future trajectory of China-U.S. relations.

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Do you agree with Sun Chenghao's assessment that defining the relationship primarily as one of competition is dangerous? Why or why not?

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About Focus This Week

Prepared by China-US Focus editorial teams in Hong Kong and New York, this weekly newsletter offers you snap shots of latest trends and developments emerging from China and the U.S. every week. It is a community space to exchange thoughts and ideas about the China-U.S. relationship and beyond.

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