Aggressive China now getting worried over adverse fallout from world fraternity

By SPS Pannu New Delhi, Nov 9 : Chinese President Xi Jinping has been talking tough and flexing military muscle on the international stage in recent months but now he appears to be worried over the adverse fallout of his belligerent foreign policy on the economic front.
The US ban on hi-tech components such as processor chips to leading companies like Huawei has had a crippling effect on the Chinese economy. Several multinational companies (MNCs) are also chalking out plans to pull out investments from China which would slow down both growth and access to the latest technology for the communist country.
Addressing the International Import Expo in Shanghai this week, Xi said: “China wanted to make its market the world’s market as it moved towards a new dual circulation’ economic model. It will reduce the country’s import restrictions, treat all companies registered in China equally and sign more trade agreements with other countries.” A Reuters report from Shanghai quoted him as saying that the world needed to work together, stand against unilateralism and not “throw punches” at each other as the global economy faced many challenges, especially with the pandemic.
This concern also came to the fore at the four-day meeting in Beijing of the Central Committee of the Chinese Communist Party headed by Xi himself, which concluded in the last week of October.
China will promote “technological self-reliance” under the latest five-year development plan but will open further to trade, Han Wenxiu, a key adviser to Xi, said at a news conference after the meeting.