Podcasts about five year plan

Stocks kicked off trading in the new year on a positive note with US equity-index futures advancing, while gold and silver gained. Trading is thin across the Asia-Pacific, with several markets shut for the holidays. Also, South Korea's exports maintained growth momentum, supported by strong semiconductor demand, easing concerns over global trade protectionism and tariff-related uncertainty that had weighed on the country for much of the year. For more on the market action, we turn to Paul Dobson, Bloomberg's Executive Editor for Asia Markets. Chinese President Xi Jinping says China has met the targets in its 14th Five-Year Plan for economic development in the 2021-2025 period, according to his New Year's Eve message. Xi highlights achievements in AI large models and chip R&D, and says China has become one of the economies with the fastest growing innovation capabilities. For more on the outlook for the Chinese economy for the year and what is ahead for the Asia Pacific, we speak to Stephanie Leung, Chief Investment Officer at StashAway. See omnystudio.com/listener for privacy information.

If you ask a bestselling novelist how long it took to go from aspiring writer to published success, the answer is usually about ten years. One reason it takes so long is that most authors learn about writing in a haphazard way. They read a blog post here, listen to a podcast there, attend a conference where they receive a firehose of information, and then watch YouTube videos hoping to fill in the gaps.It is an overwhelming way to learn. If you have ever felt overwhelmed by everything you need to know about publishing, you know exactly what this feels like.But what if you could cut that ten-year learning curve in half?In our latest podcast episode, I talk with Christy Award Hall of Fame author James L. Rubart about the Five-Year Plan for Becoming a Professional Author. It's a step-by-step training approach designed to help fiction writers build skills in the right order (without the overwhelm).This isn't a “shortcut” or gimmick course. It's a craft-first path that helps writers avoid wasted years, bad habits, and out-of-order learning.In this week's episode, you'll discover:Why most authors stall outHow to accelerate the mastery of storytellingWhat separates “good” writers from professional-level authors in the current publishing landscapeIf you've ever wondered whether you're developing your craft in the smartest way possible, or where you should start, listen in or read the blog version.Support the show

A spokesperson says the Chinese mainland will help Taiwan businesses and enterprises seize development opportunities created in implementing the 15th Five-Year Plan for Economic and Social Development.

Greetings to all! Year after year, life opens a fresh chapter. As the new year begins, I extend my best wishes to you from Beijing!The year 2025 marks the completion of China's 14th Five-Year Plan for economic and social development. Over the past five years, we have pressed ahead with enterprise and fortitude, and overcome many difficulties and challenges. We met the targets in the Plan and made solid advances on the new journey of Chinese modernization. Our economic output has crossed thresholds one after another, and it is expected to reach RMB 140 trillion yuan this year. Our economic strength, scientific and technological abilities, defense capabilities, and composite national strength all reached new heights. Clear waters and lush mountains have become a salient feature of our landscape. Our people enjoy a growing sense of gain, happiness and security. The past five years have been a truly remarkable journey, and our accomplishments have not come easily. Your unwavering hard work has made our nation thrive and prosper. I salute you all for your exceptional diligence and invaluable contributions.This year is full of indelible memories. We solemnly commemorated the 80th anniversary of the victory of the Chinese People's War of Resistance Against Japanese Aggression and the World Anti-Fascist War, and established the Taiwan Recovery Day. These grand national events were majestic and powerful, and the glory of victory will shine through the pages of history. They are inspiring all the sons and daughters of the Chinese nation to remember history, honor fallen heroes, cherish peace, and create a better future. They are rallying a mighty force for the great rejuvenation of our nation.We sought to energize high-quality development through innovation. We integrated science and technology deeply with industries, and made a stream of new innovations. Many large AI models have been competing in a race to the top, and breakthroughs have been achieved in the research and development of our own chips. All this has turned China into one of the economies with the fastest growing innovation capabilities. The Tianwen 2 probe began its star-chasing journey to explore asteroids and comets. Construction of the hydropower project at the lower reaches of the Yarlung Zangbo River started. China's first aircraft carrier equipped with an electromagnetic catapult system was officially commissioned. Humanoid robots did kung fu kicks, and drones performed spectacular light shows. Inventions and innovations have boosted new quality productive forces and added colorful dimensions to our lives.We endeavored to nurture our spiritual home with cultural development. There was a surging public interest in cultural relics, museums, and intangible cultural heritage. A new Chinese cultural site was added to the World Heritage List. Cultural IPs such as Wukong and Nezha became global hits. The younger generation came to deem classic Chinese culture as the finest form of aesthetic expression. The cultural and tourism sectors thrived. The "super league" football games in our cities and villages attracted numerous fans. Ice and snow sports ignited people's passion for the winter season. Tradition is now embracing modernity, and the Chinese culture is shining in even greater splendor.We joined hands to build a better life and enjoyed it together. I attended celebrations in Xizang and Xinjiang. From the snow-covered plateau to both sides of the Tianshan Mountains, people of various ethnic groups are united as one, like seeds of a pomegranate sticking together. With white khatas and passionate singing and dancing, they expressed their love of the motherland and the happiness they enjoy. No issue of the people is too small; we care for every leaf and tend every branch in the garden of people's well-being. Over the past year, the rights and interests of the workforce in new forms of employment have been better protected, facilities have been upgraded to bring more convenience to the elderly, and each family with childcare needs has received a subsidy of RMB 300 yuan per month. When the happy hum of daily life fills every home, the big family of our nation will go from strength to strength.We continued to embrace the world with open arms. The Shanghai Cooperation Organization Summit in Tianjin and the Global Leaders' Meeting on Women were very successful; and island-wide special customs operations were launched in the Hainan Free Trade Port. To better address climate change, China announced new Nationally Determined Contributions. After announcing the three global initiatives on development, security, and civilization, I put forward the Global Governance Initiative to promote a more just and equitable global governance system. The world today is undergoing both changes and turbulence, and some regions are still engulfed in war. China always stands on the right side of history, and is ready to work with all countries to advance world peace and development and build a community with a shared future for humanity.Not long ago, I attended the opening ceremony of the National Games, and I was glad to see Guangdong, Hong Kong and Macao coming together in unity and acting in unison. We should unswervingly implement the policy of One Country, Two Systems, and support Hong Kong and Macao in better integrating into the overall development of our country and maintaining long-term prosperity and stability. We Chinese on both sides of the Taiwan Strait share a bond of blood and kinship. The reunification of our motherland, a trend of the times, is unstoppable!Only a strong Communist Party of China can make our country strong. We launched the study and education program on fully implementing the central Party leadership's eight-point decision on improving Party and government conduct. We exercised strict governance of the Party through credible measures, and promoted the Party's self-revolution to fight corruption and advance healthy governance. As a result, the conduct of our Party and government steadily improved. We must stay true to our original aspiration and founding mission, and pursue our goal with perseverance and dedication. We should continue to give a good answer to the question on how to maintain long-term governance put forth in a cave dwelling in Yan'an and prove ourselves worthy of the people's expectation in the new era.The year 2026 marks the beginning of the 15th Five-Year Plan. A successful venture should start with a good plan and with clear goals set. We should focus on our goals and tasks, boost confidence, and build momentum to press ahead. We should take solid steps to promote high-quality development, further deepen reform and opening up across the board, deliver prosperity for all, and write a new chapter in the story of China's miracle.The dream lofty, the journey long-bold strides will get us there. Let us charge ahead like horses with courage, vitality, and energy, fight for our dreams and our happiness, and turn our great vision into beautiful realities.The sun of the new year will soon rise. May our great motherland stand in magnificence! May the fields across the country deliver good harvest! May our nation bathe in the glory of the morning! May you all enjoy life to the fullest, and achieve every success! May all your dreams come true!

China is accelerating its push toward a consumption-led economic model, with policymakers identifying the expansion of domestic demand as the key driver of GDP growth during the 15th Five-Year Plan period (2026-30), economists and officials said.经济学家和相关官员表示，中国正加快向消费主导型经济模式转型，政策制定者已明确将扩大内需列为 “十五五” 规划时期（2026-2030 年）国内生产总值增长的核心驱动力。Following the tone-setting Central Economic Work Conference, which prioritized domestic demand for 2026, experts noted a strategic transition: China is moving beyond simple volume growth toward "structural optimization". This involves leveraging fiscal tools to boost household incomes and specifically targets the high-growth services sector to buffer against external uncertainties.在为 2026 年经济工作定调、并将扩大内需列为重点任务的中央经济工作会议召开后，专家指出中国正迎来战略转型：经济发展正从单纯的规模增长转向 “结构优化”。这一转型包括运用财政工具提振居民收入，并重点瞄准高增长的服务业，以抵御外部环境的不确定性。An official from the Office of the Central Committee for Financial and Economic Affairs confirmed that Beijing will roll out concrete plans to boost household incomes and raise basic pensions while increasing the supply of high-quality products and services and also removing unreasonable restrictions to fully unlock consumption potential.中央财经委员会办公室的一位官员证实，国家将出台具体方案，在提高居民收入、上调基本养老金的同时，增加优质产品和服务供给，消除不合理限制，以充分释放消费潜力。Experts see this policy stance as a signal for significant growth in specific areas, and express optimism about the long-term potential of China's consumer market.专家认为，这一政策立场预示着部分特定领域将迎来大幅增长，并对中国消费市场的长期潜力持乐观态度。Wang Wei, a senior researcher at the Development Research Center of the State Council, said at a recent forum hosted by China News Service: "China's consumption growth maintains strong momentum and ample potential. Emerging areas such as digital services, green technology and health-related demand are expected to become the primary engines of the consumer market."国务院发展研究中心资深研究员王伟在近期由中国新闻社主办的一场论坛上表示：“中国消费增长势头强劲、潜力充足。数字服务、绿色科技以及健康相关需求等新兴领域，有望成为消费市场的核心增长引擎。”Official data support this structural divergence. According to the National Bureau of Statistics, retail sales of services climbed 5.4 percent year-on-year in the first 11 months of 2025, outpacing the overall retail growth of 4 percent.官方数据印证了这一结构性分化趋势。国家统计局数据显示，2025 年前 11 个月，服务业零售额同比增长 5.4%，增速高于整体零售 4% 的同比增幅。Chen Lifen, a researcher at the DRC, described the current phase as a critical evolution from a goods-dominated model to one that balances goods and services, with a long-term trajectory toward a services-led structure.国务院发展研究中心研究员陈丽芬表示，当前阶段正处于关键转型期，经济模式正从商品主导型转向商品和服务均衡型，长期来看将朝着服务主导型结构迈进。"As income levels rise, demand for services, which typically have high income elasticity, naturally increases its share of total wallet spending," Chen said, adding that with basic needs largely met, the "quality upgrade" is driving capital toward personal development, leisure and smart home ecosystems.陈丽芬指出：“随着居民收入水平提升，收入弹性较高的服务类需求在居民总消费中的占比自然会上升。” 她补充道，在基本需求得到充分满足的背景下，“品质升级” 正推动资本流向个人发展、休闲娱乐以及智能家居生态等领域。The shift is already reshaping corporate investment strategies as companies move to capture these high-quality demand pockets.这一转型已经在重塑企业的投资策略，企业纷纷布局以抢占这些高品质需求市场。Fang Xing, a vice-general manager at Ping An Property & Casualty Insurance, highlighted the surging "pet economy" — now valued at approximately 300 billion yuan ($42.81 billion). With veterinary costs often exceeding 10,000 yuan for major procedures, financial institutions are developing specialized insurance products to hedge these rising household costs.平安产险副总经理方兴特别提到了蓬勃发展的 “宠物经济”，其市场规模目前已达约 3000 亿元人民币（合 428.1 亿美元）。由于宠物重大诊疗项目的费用往往超过 1 万元，金融机构正研发专项保险产品，帮助家庭对冲这类不断上涨的支出。Similarly, in the manufacturing sector, the focus has shifted from scale to efficiency. Guo Yanhu, a director with Gree Electric Appliances, said consumer demand for green energy is driving research and development. He cited Gree's investment in AI-driven energy systems — which has boosted efficiency by over 25 percent — as a direct response to both domestic eco-targets and demand from overseas markets.无独有偶，制造业的发展重心也从规模转向了效率。格力电器董事郭彦虎表示，消费者对绿色能源的需求正驱动企业加大研发投入。他举例称，格力对人工智能驱动能源系统的投资，使能效提升超 25%，这一举措既是对国内生态目标的响应，也是对海外市场需求的直接对接。Economists emphasize that sustaining this momentum requires institutional reforms. Su Jian, a professor at the School of Economics at Peking University, said expanding "high-quality demand" requires a virtuous cycle where new products help cultivate new demand, while cost-reducing innovations allow new demand to scale.经济学家强调，要维持这一增长势头，必须推进制度改革。北京大学经济学院教授苏剑表示，扩大 “高品质需求” 需要形成良性循环：新产品助力培育新需求，而降本创新则为新需求的规模化发展提供支撑。While fiscal and monetary policies are essential to expand demand, Su said expanding high-quality demand depends on developing new quality productive forces through product innovation and process innovation.苏剑指出，尽管财政和货币政策对扩大需求至关重要，但扩大高品质需求的核心在于通过产品创新和工艺创新，培育新质生产力。Luo Zhiheng, chief economist at Yuekai Securities, added that boosting consumption during the 15th Five-Year Plan period is a strategic choice rather than a short-term policy response.粤开证券首席经济学家罗志恒补充道，“十五五” 期间提振消费是一项战略抉择，而非短期的政策应对措施。"Key to raising the household consumption rate will be improving income distribution, strengthening social security and widening market access. These are the fundamental levers to converting potential demand into actual economic activity," Luo said.罗志恒表示：“提高居民消费率的关键在于完善收入分配、强化社会保障以及拓宽市场准入。这三项举措是将潜在需求转化为实际经济活动的根本抓手。”consumption /kənˈsʌmpʃn/ 消费domestic /dəˈmestɪk/ 国内的；家庭的innovation /ˌɪnəˈveɪʃn/ 创新elasticity /ˌiːlæstɪˈsɪəti/ 弹性

MAO'S XENOPHOBIC REVOLUTION AND THE GREAT LEAP FORWARD Colleague Professor Sean McMeekin. Moving to China, McMeekin explains that Mao Zedong's ideology was a "bizarre melange" of Marxism, class envy, and intense xenophobia. Unlike European communists, Chinese communism was driven by a deep resentment of foreign imperialism. The conversation analyzes the catastrophe of the Great Leap Forward, where Maoattempted to surpass British economic output by collectivizing agriculture and creating "industrial armies"—an idea taken directly from the Communist Manifesto and Stalin's Five-Year Plans. This experiment resulted in the death of 40 to 45 million people. McMeekin notes that Mao ignored warnings from Soviet advisors to avoid their past mistakes, driven instead by a competitive desire to outdo the Soviets and a "fantasmagorical" hatred of foreign influence. NUMBER 5

The Chinese Finance Ministry has pledged to expand fiscal expenditure in 2026 to ensure a solid start to the country's 15th Five-Year Plan period from 2026 to 2030. Finance Minister Lan Fo'an said China will implement a more proactive fiscal policy next year.

Discipline inspection and supervision bodies are urged to advance full and rigorous Party self-governance with higher standards and more effective measures, to provide a strong guarantee for economic and social development during the 15th Five-Year Plan (2026-30) period, according to a key Communist Party of China leadership meeting on Thursday.据周四召开的中国共产党重要领导会议要求，纪检监察机关要以更高标准、更有力举措推进全面从严治党，为“十五五”时期（2026—2030年）经济社会发展提供坚强保障。The meeting was convened by the Political Bureau of the CPC Central Committee to discuss and plan the Party's efforts to improve conduct, build integrity and combat corruption for the next year. Xi Jinping, general secretary of the CPC Central Committee, presided over the meeting.会议由中共中央政治局召开，研究部署明年党的作风建设、廉政建设和反腐败工作。中共中央总书记习近平主持会议。The meeting acknowledged that in 2025, under the strong leadership of the CPC Central Committee with Xi at its core, discipline inspection and supervision authorities at all levels intensified their efforts to improve conduct, build integrity and combat corruption, maintaining a tough stance against corruption.会议指出，2025年，在以习近平同志为核心的党中央坚强领导下，各级纪检监察机关持续加大作风建设、廉政建设和反腐败斗争力度，始终保持反腐高压态势。Emphasis was placed on reinforcing political oversight, thoroughly studying and implementing the guiding principles of the CPC Central Committee's eight-point decision on improving Party and government conduct, decisively fighting corruption and undesirable work styles, rectifying misconduct affecting the public, and completing inspections across all provinces, autonomous regions and municipalities, the meeting said, noting that new progress and results have been achieved in the high-quality development of discipline inspection and supervision work.会议强调，要强化政治监督，深入学习贯彻中央八项规定精神，坚决纠治腐败和不正之风，持续整治群众身边的不正之风和腐败问题，完成对所有省、自治区、直辖市的巡视工作。会议指出，纪检监察工作高质量发展取得新的进展和成效。Looking ahead to 2026, the meeting stressed the need for all levels of disciplinary inspection and supervision bodies to uphold stricter standards and adopt more effective measures in advancing full and rigorous Party self-governance.展望2026年，会议强调，各级纪检监察机关要坚持更严标准、采取更实举措，持续推进全面从严治党。Key tasks include deepening political oversight to ensure the fulfillment of the objectives of the 15th Five-Year Plan, and prompting leading Party officials to foster and practice a correct attitude toward performance in their work and faithfully implement major decisions and deployments of the CPC Central Committee, the meeting said.会议指出，重点任务包括深化政治监督，保障“十五五”规划目标任务落实，引导各级领导干部树立和践行正确政绩观，确保党中央重大决策部署不折不扣贯彻落实。The meeting emphasized the need to consolidate and expand the achievements in Party-wide education on the eight-point decision on improving conduct, intensify efforts to battle misconduct and corruption affecting the public, and restrain power in an institutional cage. It reiterated the Party's firm commitment to combating corruption, and urged integrated deterrence measures to ensure that Party officials do not have the audacity, opportunity or desire to engage in corruption.会议强调，要巩固拓展全党深入贯彻中央八项规定精神学习教育成果，持续加大整治群众身边不正之风和腐败问题力度，把权力关进制度的笼子里。会议重申了党坚定不移反腐败的决心，要求综合运用惩治震慑、制度约束和思想教育等手段，确保党员干部不敢腐、不能腐、不想腐。The meeting also called for strengthening the strict management and supervision of the disciplinary inspection forces to cultivate a capable disciplinary and supervisory team.会议还指出，要加强对纪检监察队伍的严格管理和监督，打造一支忠诚干净担当、敢于善于斗争的纪检监察铁军。Prior to the meeting, Xi presided over a meeting of the Standing Committee of the Political Bureau of the CPC Central Committee, during which reports were heard on the work of the CPC Central Commission for Discipline Inspection and the National Commission of Supervision for 2025, as well as preparations for the Fifth Plenary Session of the 20th CPC Central Commission for Discipline Inspection.会议召开前，习近平主持召开中共中央政治局常委会会议，听取了中央纪委国家监委2025年工作情况和二十届中央纪委五次全会筹备情况的汇报。The session is scheduled for Jan 12 to 14.会议定于1月12日至14日召开。discipline inspection and supervision/ˈdɪsɪplɪn ɪnˈspekʃən ænd ˌsuːpəˈvɪʒən/纪检监察full and rigorous Party self-governance/fʊl ænd ˈrɪɡərəs ˈpɑːti ˌself ˈɡʌvənəns/全面从严治党Party conduct/ˈpɑːti ˈkɒndʌkt/党的作风combat corruption/ˈkɒmbæt kəˈrʌpʃən/反腐败correct attitude toward performance/kəˈrekt ˈætɪtjuːd təˈwɔːdz pəˈfɔːməns/正确政绩观integrated deterrence measures/ˈɪntɪɡreɪtɪd dɪˈterəns ˈmeʒəz/一体化惩治震慑措施Standing Committee/ˈstændɪŋ kəˈmɪti/常委会

China's efforts to scale up effective investment, with a particular focus on encouraging private sector participation and increasing investment in human capital, will play a key role in boosting domestic demand next year, officials and experts said.政府工作人员和专家表示，中国扩大有效投资的举措，特别是鼓励民营企业参与和增加人力资本投资，将在明年提振内需方面发挥关键作用。The annual Central Economic Work Conference, held earlier this month, emphasized the need to "halt the decline in investment and promote its recovery" amid a complex external environment.本月早些时候召开的年度中央经济工作会议强调，在复杂的外部环境下，必须“遏制投资下滑趋势，促进投资回升”。The government needs to effectively drive investment by making good use of funding sources such as central government budget investments, ultra-long-term special treasury bonds and local government special bonds, Xinhua News Agency quoted an official of the Office of the Central Commission for Financial and Economic Affairs as saying.新华社援引中央财经委员会办公室一位政府工作人员的话称，政府需要有效利用中央财政预算投资、超长期国债和地方政府专项债券等资金来源，有效引导投资。"The government will support private firms' participation in major projects in sectors such as railways and nuclear power, and guide private investment toward new fields such as high-tech industries and the service sector," the official said.该工作人员表示：“政府将支持民营企业参与铁路、核电等领域的大型项目，引导民营资本投向高新技术产业、服务业等新兴领域。”The official added that major projects set for the 15th Five-Year Plan (2026-30) period could be front-loaded where conditions permit.该工作人员补充说道，在条件允许的情况下，原定于第十五个五年计划（2026-2030年）期间实施的重大项目可提前启动。China's fixed-asset investment fell 2.6 percent year-on-year in the first 11 months of the year, according to the National Bureau of Statistics.国家统计局数据显示，今年前11个月，中国固定资产投资同比下降2.6%。China has rolled out a series of targeted policies over the past year, including an 800 billion yuan ($113.8 billion) list of key projects to implement major national strategies and strengthen security capacity in key areas, and 500 billion yuan in new policy-based financial tools to supplement project capital.过去一年，中国推出了一系列定向政策，包括8000亿元（1138亿美元）重点项目清单，以落实重大国家战略、强化重点领域安全保障能力，以及5000亿元新增政策性金融工具，用于补充项目资本金。The economic agenda-setting meeting also called for greater investment in physical assets and human capital.经济议程设定会议还呼吁加大对实物资产和人力资本的投资力度。From the country's sprawling highway networks and bullet trains to its forest of urban high-rises, investment in physical assets played a crucial role in its economic growth over the past decades, said Yu Chunhai, executive dean of Renmin University of China's School of Economics.中国人民大学经济学院执行院长于春海指出，从遍布全国的高速公路网络和高铁系统，到城市摩天大楼林立的景象，过去数十年来，实物资产投资在推动中国经济增长方面发挥了关键作用。However, Yu noted that the country'sincremental capital output ratio, which indicates the amount of capital required for every 1 yuan increase in GDP, increased from 2.84 in 2008 to 9.44 in 2023.然而，于春海指出，中国的边际资本产出比（即每增加1元GDP所需投入的资本量）从2008年的2.84上升至2023年的9.44。Meanwhile, facing diminishing returns from the old growth model and a global shift toward talent-centric competition, China is placing a strategic bet on investing in people, analysts said.与此同时，面对传统增长模式回报递减以及全球向人才竞争格局转变的趋势，中国正将战略重心转向人才投资，分析师指出。Investment in human capital refers to inputs that develop people's capabilities and unlock their potential at all stages of life, including childcare, elderly care, health, education and skills training.人力资本投资指在人生各个阶段提升个人能力、释放潜能的投入，包括儿童保育、老年护理、健康保障、教育培养及技能培训。An aging population and rising labor costs are eroding the traditional demographic advantage. By prioritizing investment in human capital, China seeks to build long-term economic competitiveness for innovation-driven, demand-led growth, said Chen Wenling, former chief economist at the China Center for International Economic Exchanges.中国国际经济交流中心前首席经济学家陈文玲指出，老龄化人口和不断上升的劳动力成本正在侵蚀传统的人口红利优势。通过优先投资人力资本，中国致力于构建长期经济竞争力，推动创新驱动、需求引领的增长模式。"A healthier, better-educated and more secure workforce is the most critical infrastructure for the next stage of China's development," Chen said. "Sustained investment in people's capabilities, health and career development doesn't just improve well-being—it directly fuels economic upgrading."陈文玲表示：“更健康、受教育程度更高、更有保障的劳动力队伍，是中国下一阶段发展最关键的基础设施。持续投资于人民的能力、健康和职业发展，不仅能提升福祉，更能直接推动经济升级。”Meanwhile, analysts believe that investing in people could also help unlock the spending power of China's massive population, creating a virtuous cycle in which social investment fuels consumption resilience.与此同时，分析人士认为，投资于人力资本也有助于释放中国庞大人口的消费潜力，从而形成良性循环，社会投资推动消费韧性增强。The enhanced investments in pensions, childcare and healthcare are designed to alleviate theprecautionary savings burdens that constrain household spending, said Luo Zhiheng, chief economist and head of the research institute at Yuekai Securities.粤开证券首席经济学家兼研究院院长罗志恒表示，加大养老、育儿和医疗领域的投资力度，旨在缓解制约家庭支出的预防性储蓄负担。"This approach transforms social spending into a powerful economic driver. A more secure population is likely to spend more freely," Luo said. "The direction aligns with China's broader economic objectives of rebalancing growth toward high-quality domestic demand."罗志恒表示：“这种做法将社会支出转化为强有力的经济驱动力。生活更有保障的人群往往更愿意消费。该方向与中国更广泛的经济目标相契合，即推动经济增长向高质量的内需转型。”incrementaladj./ˌɪŋ.krəˈmen.t̬əl/递增的precautionaryadj./prɪˈkɑː.ʃən.er.i/预防性的

During the 14th Five-Year Plan period, from 2021 through 2025, China's degraded grassland area shrunk rapidly, by more than 46 million mu, or about three million hectares, each year.

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Experts have called for stronger policy and financial support for young people and enhanced efforts to eliminate workplace discrimination to foster a marriage-and birth-friendly society.专家呼吁加强针对年轻人的政策和财政支持，并加大消除职场歧视的力度，以营造一个支持婚姻和生育的社会环境。According to the China Statistical Yearbook, which was published recently by the National Bureau of Statistics, about 6.1 million couples registered their marriage in 2024. Among them, 6.04 million were mainland residents, while 61,900 had spouses who were foreigners, overseas Chinese, or residents of the Hong Kong and Macao special administrative regions and Taiwan.根据国家统计局近日发布的《中国统计年鉴》，2024年全国登记结婚约610万对。其中，大陆居民登记结婚604万对，与外国公民、海外华侨及港澳台地区居民结婚登记6.19万对。Data shows that the number of marriage registrations has fluctuated in recent years, with a marginal rebound in 2023 after continuous decline since 2013. In the first three quarters of 2025, there has been a modest increase in the number, with about 5.15 million couples registering their marriage, compared with 4.75 million during the same period last year.数据显示，近年来婚姻登记数量呈现波动态势，自2013年持续下降后，2023年出现小幅回升。2025年前三季度登记数量有所增长，约515万对新人完成婚姻登记，较去年同期475万对有所增加。Amid this trend, experts and members of the public have urged more policy and financial support from the government to ease pressures on young people of marriageable age and encourage them to marry and have children.在此趋势下，专家和公众呼吁政府提供更多政策和财政支持，以缓解适婚年龄青年的压力，鼓励他们结婚生子。"From a demographic perspective, China's current population of marriageable age—mainly those born after 1990 and 2000—is shrinking. Young people's views on marriage differ from those of previous generations. They tend to delay marriage or choose not to marry," said Jiang Quanbao, a professor at the Capital University of Economics and Business' School of Labor Economics in Beijing.从人口结构角度看，中国当前适婚年龄段人口——主要是1990后和2000后群体——正在缩减。首都经济贸易大学劳动经济学院教授姜全保指出：“年轻一代的婚姻观与前辈存在差异，他们普遍推迟结婚或选择不结婚。”Social pressures and changing norms also influence marriage decisions, Jiang noted. "Young people face financial pressures from housing expenses, 'bride price', and wedding and childbearing costs. Also, women are becoming more educated and pursuing career success," he said, adding that society has become more inclusive and open-minded about diverse attitudes toward marriage.姜全保指出，社会压力和不断变化的规范也影响着婚姻决策，“年轻人面临住房开支、‘彩礼'以及婚嫁生育等经济压力。同时，女性受教育程度不断提高，更追求事业成功。”他还表示，社会对婚姻的多样化态度也变得更加包容和开放。Zhang Xianling, an associate professor at the Central University of Finance and Economics' School of Sociology and Psychology in Beijing, told Workers' Daily that marriage is traditionally seen as essential for personal growth and carrying forward the family bloodline, but with rapid economic and social transformations, more young people now choose to delay marriage or not marry at all.中央财经大学社会与心理学院副教授张现苓向《工人日报》表示，婚姻传统上被视为个人成长和延续家族血脉的重要途径，但随着经济社会快速转型，如今越来越多的年轻人选择推迟结婚或不结婚。To boost marriage and childbirth rates, relevant authorities have rolled out new supportive measures, includingstreamlining marriage registration procedures.为提高结婚率和生育率，相关主管部门推出了一系列支持性新措施，包括简化结婚登记手续。In May, people of marriageable age were allowed to register for marriage at their place of work or residence instead of their hometowns under the hukou system, also known as household registration.五月起，适婚年龄人群可在工作地或居住地登记结婚，无需再按户籍制度要求返回户籍所在地办理。In July, a financial support policy was introduced to give families 3,600 yuan ($511) per year for each child under the age of 3 years.七月，一项财政支持政策出台，规定每年为每个未满三周岁的儿童提供3600元（约合511美元）的补助。The recently adopted recommendations for formulating China's 15th Five-Year Plan (2026-30) also call for promoting positive attitudes toward marriage and childbirth by optimizing supportive policies and incentives.近期通过的关于制定中国第十五个五年规划（2026-2030年）的建议，同时要求通过完善支持性政策和激励措施，促进社会对婚姻和生育的积极态度。Wang Xuanyi, 29, a financial analyst in Beijing, said that for ordinary people, the greatest pressures of marriage include home loans and child-rearing expenses. "For me, as a woman, I may face discrimination in the workplace, as some employers see pregnant employees as a burden."29岁的北京金融分析师王宣怡（音译）表示，对普通人而言，婚姻的最大压力包括房贷和育儿开支，“作为女性，我可能面临职场歧视，因为有些雇主认为怀孕员工是负担。”Wang emphasized that it is important for the government to promote healthier perspectives on marriage and childbirth by alleviating young people's concerns about career development, high housing prices, and a work culture that is not friendly toward childcare.王宣怡（音译）强调，政府应通过缓解年轻人对职业发展、高房价以及不利于育儿的工作文化的担忧，来倡导更健康的婚姻和生育观念。"It will be a long journey, but I think things will get better if we receive stronger policy and financial support from the authorities," she added.她补充道：“这将是一段漫长的旅程，但我认为，如果我们能获得政府更强有力的政策和财政支持，情况将会好转。”Jiang, from Capital University of Economics and Business, said that encouraging young people to marry and have children requires a systematic effort involving financial support, improved public services and guidance on marriage values.来自首都经济贸易大学的姜全保教授指出，鼓励年轻人结婚生子需要系统性举措，包括提供经济支持、完善公共服务以及引导婚姻价值观。"The government can offer special housing subsidies, or low-interest or interest-free housing loans, to the newlyweds. In addition to childcare subsidies, it could explore benefits such as marriage and settlement allowances and tax reductions for couples," he said.政府可为新婚夫妇提供专项住房补贴，或发放低息乃至免息住房贷款。除育儿补贴外，还可探索婚姻定居津贴、夫妻税收减免等福利措施。Jiang said that it is crucial "to fully implement and optimize thematernity leave system and encourage men to share childcare responsibilities to reduce the 'motherhood penalty'—prejudices women may face in the job market due to childbirth".姜全保表示，关键在于“全面落实并完善产假制度，鼓励男性分担育儿责任，以减轻‘母亲惩罚'——即女性因生育而在就业市场可能面临的偏见”。The expert also called for improvements in childcare services, and suggested that schools and residential communities organize lectures for young people on maintaining relationships and managing family tensions.姜全保还呼吁改善托儿服务，并建议学校和社区为年轻人组织讲座，内容涉及维系亲密关系和处理家庭矛盾。"It's important to portray a healthy, fair and happy marriage and family life," he said, adding that trade unions and communities could organize diverse and healthy dating activities or social events for young people.他说：“展现健康、公平、幸福的婚姻和家庭生活很重要。”他还表示，工会和社区可以为年轻人组织多样化、健康的约会活动或社交活动。streamlinev./ˈstriːm.laɪn/简化maternity leaven./məˈtɝː.nə.t̬i/产假bride price彩礼

China aims to broaden insurance coverage for childbirth-related medical expenses and strengthen support for pharmaceutical innovation in the coming year, according to the National Healthcare Security Administration.国家医疗保障局表示，中国计划在未来一年扩大生育相关医疗费用的保险覆盖范围，并加强对医药创新的支持力度。The goals were outlined in a report delivered by Zhang Ke, director of the administration, at its annual work conference on Saturday. The report reviewed progress in healthcare security during the 14th Five-Year Plan period (2021-25) and detailed priority areas for 2026.这些目标由国家医疗保障局主任章轲在周六举行的年度工作会议上提交的报告中提出。该报告回顾了“十四五”规划期间（2021-2025年）医疗保障工作的进展，并详细列出了2026年的重点工作领域。To adapt to demographic shifts marked by declining birth rates and a rapidly aging population, the report said maternity insurance coverage for prenatal checkups will be reasonably expanded within the financial capacity of the insurance fund.为应对生育率下降和人口快速老龄化的人口结构变化，报告指出将在保险基金财力范围内合理扩大孕产妇保险的产前检查覆盖范围。Authorities will explore the creation of a basic service package that incorporates prenatal examinations, aiming to ease the financial burden on families.相关部门将研究推出包含产前检查的基本服务套餐，旨在减轻家庭的经济负担。By next year, the goal is to achieve nationwide full reimbursement for all policy-covered medical expenses related to childbirth, enabling insured expectant mothers to incur almost no out-of-pocket costs for covered services.到明年，目标是实现全国范围内对所有与分娩相关的保险覆盖医疗费用全额报销，使参保孕妇在享受保险覆盖服务时几乎无需承担自付费用。Additional expenses, such as those for premium hospital wards or medications not included in the reimbursement list, will remain uncovered.但例如高级病房费用或未列入报销清单的药品等的额外费用，仍将不予覆盖。So far, seven provincial-level regions, including Jilin, Jiangsu and Shandong provinces, have implemented policies that make childbirth nearly free of charge.迄今为止，包括吉林、江苏和山东在内的七个省级地区已实施政策，使生育费用几乎免费。The administration said the number of women enrolled in the national maternity insurance program has risen to 255 million, and all regions have included fertility treatment in their basic health insurance plans.国家医疗保障局表示，全国生育保险参保女性人数已增至2.55亿，所有地区均已将生育治疗纳入基本医疗保险范围。Nearly 95 percent of fund pooling regions now distribute fertility subsidies directly to beneficiaries' personal accounts rather than through employers.目前近95%的基金池地区已将生育补贴直接发放至受益人个人账户，而非通过雇主发放。For the coming year, authorities will promote participation among flexible workers, migrant workers and individuals in new forms of employment in maternity insurance, while exploring the feasibility of extending coverage to nonemployed urban and rural residents.未来一年，相关部门将推动灵活就业人员、流动务工人员及新型就业形式从业人员参与生育保险，同时研究将覆盖范围扩大至城镇非雇佣居民和农村居民的可行性。All provincial-level regions will be required to cover eligible labor pain relief procedures under insurance and further implement and refine reimbursement policies for assisted reproductive technology services.所有省级行政区都将要求将符合条件的分娩镇痛项目纳入医保范围，并进一步落实和完善辅助生殖技术服务的报销政策。To assist the 220 million people aged 65 and older — who make up 15.6 percent of China's total population as of end of 2024 — the report called for the further development of the long-term care insurance program, which currently covers about 300 million people, and encouraged commercial insurers to develop related products.为帮助2.2亿65岁及以上人口（截至2024年底占中国总人口的15.6%），报告呼吁进一步发展长期护理保险制度，该制度目前覆盖约3亿人；并鼓励商业保险公司开发相关产品。Addressing demographic challenges was also among the priorities set by the annual two-day Central Economic Work Conference that concluded on Thursday. The conference emphasized expanding rehabilitative care services, advancing the long-term care insurance program, and strengthening care and support for vulnerable groups.应对人口结构挑战也是本周四结束的为期两天年度中央经济工作会议确定的重点工作之一。会议强调要扩大康复护理服务范围，推进长期护理保险制度建设，加强对弱势群体的照护与支持。The meeting also stressed the importance of promoting positive views on marriage and childbearing and striving to stabilize the newborn population.会议还强调了倡导积极婚姻生育观念、努力稳定新生儿人口的重要性。The healthcare security report also underscored stepped-up support for innovative drugs and emerging healthcare technologies.该医疗保健安全报告还强调了对创新药物和新兴医疗技术的加强支持。Over the past five years, 949 medicines were added to the national reimbursement drug list, bringing the cumulative total to 3,253.过去五年间，共有949种药品被纳入国家医保药品目录，累计纳入药品总数达到3253种。In the latest update released earlier this month, a record 50 first-in-class novel drugs were added, accounting for nearly half of the 114 newly included products.在本月初发布的最新的医保药品目录更新中，新增了创纪录的50种首创创新药物，占新增的114种产品近半数。At the same time, the administration issued the country's first commercial insurance innovative drug list, covering 19 medicines with significant clinical value, high innovation levels and substantial patient benefits.与此同时，国家医疗保障局发布了全国首份商业保险创新药目录，涵盖19种具有显著临床价值、高创新水平和实质性患者获益的药品。The report called for active implementation of the commercial drug list and encouraged commercial health insurers to cover more reasonable medical expenses outside the basic insurance catalog. Commercial insurers will also be mobilized to increase investment in innovative drugs to support research and development.该报告呼吁积极实施商业药品目录，鼓励商业健康保险公司覆盖基本保险目录外的更多合理医疗费用。同时将动员商业保险公司加大对创新药物的投资力度，以支持研发工作。To further foster innovation, the report highlighted the need to leverage medical insurance's strategic purchasing role, guide the industry toward healthy competition and differentiated innovation, and improve multichannel payment mechanisms for innovative drugs.为进一步促进创新，报告强调需发挥医保战略采购作用，引导行业开展良性竞争和差异化创新，完善创新药多渠道支付机制。The rapid development of artificial intelligence and other smart technologies also presents opportunities to build a more digital healthcare security platform and establish an evaluation system using real-world data to comprehensively assess the value of insurance-covered medications.人工智能及其他智能技术的快速发展，也为构建更完善的数字化医疗安全平台提供了机遇，并能建立基于真实世界数据的评估体系，全面评估医保药品的价值。Authorities will support local governments in launching competitions for healthcare security application scenarios involving advanced technologies such as multimodal AI-assisted diagnosis and noninvasive brain-computer interfaces.政府将支持地方政府开展医疗健康安全应用场景竞赛，涉及多模态人工智能辅助诊断、非侵入式脑机接口等前沿技术。Official data show the national basic medical insurance coverage rate has remained stable at about 95 percent over the past five years, with total expenditures exceeding 13 trillion yuan ($1.82 trillion). Flexible workers, migrant workers and individuals in new forms of employment have increasingly been supported to enroll.官方数据显示，过去五年全国基本医疗保险覆盖率稳定在95%左右，累计支出超过13万亿元（合1.82万亿美元）。灵活就业人员、农民工和新型就业人员参保比例持续提升。During this period, China carried out eight rounds of centralized drug procurement covering treatments for diabetes, cancer, bacterial infections and other common chronic diseases, as well as four rounds of bulk purchasing for high-value medical consumables such as artificial joints, intraocular lenses and cochlear implants.在此期间，中国开展了八轮集中采购，涵盖糖尿病、癌症、细菌感染等常见慢性病的治疗药物，并进行了四轮高价医疗耗材的集中采购，包括人工关节、人工晶体和人工耳蜗等。Local authorities recovered about 120 billion yuan in misused insurance funds and prevented an additional 9.5 billion yuan in losses by using big data and smart monitoring tools. The introduction of drug traceability codes has strengthened efforts to crack down on drug resale and fraudulent reimbursement.地方政府通过运用大数据和智能监控工具，追回约1200亿元被滥用的医保资金，并防止了95亿元的损失。药品追溯码的引入，进一步加强了打击药品转售和虚假报销的力度。maternity insurance[məˈtɜːrnəti]生育保险procurement[prəˈkjʊrmənt]采购full reimbursement[ˌriːɪmˈbɜːrsmənt]全额报销migrant workers流动务工人员

Chinese equities enter 2026 on a strong footing, with policy tailwinds from the upcoming Five-Year Plan expected to sustain momentum despite recent consolidation. While tech-led rallies have dominated, attention is shifting toward domestic consumption as policymakers prioritise demand-side reforms—a potential turnaround for lagging consumer sectors if stimulus materialises.Meanwhile, ongoing concerns over stretched valuations in US tech and AI names underscore the case made for diversifying into non-US markets, such as China and Japan. Structural drivers, including a weaker U.S. dollar and gradual yuan appreciation, add to the appeal. On commodities, strong fundamentals and AI-driven demand for industrial metals signal further upside, building on this year's broad-based rally in materials.This episode is presented by Richard Tang, Head of Research Hong Kong at Julius Baer and Hong Hao, Managing Partner and CIO of Lotus Asset Management Ltd.

The Central Economic Work Conference is calling for a good start for China's 15th Five Year Plan period.

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The election of the eighth-term Legislative Council of the Hong Kong Special Administrative Region on Sunday marks another important moment in the SAR's steady advance toward high-quality democracy under the guiding principle of "patriots administering Hong Kong".香港特别行政区第八届立法会选举于周日举行，标志着香港在”爱国者治港”的指导原则下，朝着高质量民主稳步前进的又一重要时刻。This is the second LegCo election since the Standing Committee of the National People's Congress amended Hong Kong's electoral system in March 2021 to ensure the full and faithful implementation of the principle of Hong Kong should be governed by Hong Kong people, with patriots as the main body.这是自2021年3月全国人民代表大会常务委员会修订香港选举制度以来举行的第二次立法会选举，旨在确保全面准确贯彻”港人治港、爱国者担任主体”的原则。The improved electoral system has enabled the formation of a legislature that is broadly representative, politically inclusive and balanced in participation—characteristics that align with Hong Kong's actual circumstances and governance needs. The current LegCo consists of 90 seats, with 40 returned by the Election Committee constituency, 30 by functional constituencies, and 20 by geographical constituencies through direct elections. This structure, which has functioned smoothly since the reform was implemented, enhances both representation and efficiency, reflecting the interests of all segments of Hong Kong society and the SAR as a whole.经改进的选举制度使立法机构能够广泛代表社会各界，在政治上具有包容性，并在参与方面保持平衡——这些特点符合香港的实际情况和治理需求。现行立法会由90个席位组成，其中40席由选举委员会界别选举产生，30席由功能界别选举产生，20席由地方选区通过直接选举产生。自改革实施以来，这一架构运行顺畅，既增强了代表性又提高了效率，充分反映了香港社会各阶层及整个特别行政区的利益。This year's LegCo election is competitive. A total of 161 candidates—including senior academics, Olympic champions, managers of small and medium-sized enterprises, cultural workers, community organizers and rising professionals from innovation and technology sectors—are vying for the 90 seats. According to the Electoral Affairs Commission of Hong Kong, 51 nominations were received for geographical constituencies, 60 for functional constituencies, and 50 for the Election Committee constituency. That means competition is particularly strong in geographical constituencies, where 51 candidates are contesting 20 seats, ensuring that no one can "win easily" and that the LegCo election returns to its essence: selecting the virtuous and capable based on political platform, professionalism and service commitment.今年的立法会选举竞争激烈。共有161名候选人，包括资深学者、奥运冠军、中小企业管理者、文化工作者、社区组织者以及创新科技领域的新锐专业人士等，角逐90个席位。据香港选举事务委员会统计，地方选区收到51份提名，功能界别60份，选举委员会界别50份。这意味着地方选区的竞争尤为激烈，51名候选人角逐20个席位，使得无人能“轻松获胜”，使立法会选举回归本质：依据政治纲领、专业素养及服务承诺选拔贤能之士。More than 600 polling stations, including newly added ones at the Hong Kong-Zhuhai-Macao Bridge checkpoint and Hong Kong International Airport, have made voting more convenient, further highlighting the people-oriented and pragmatic nature of Hong Kong's electoral arrangements.超过600个投票站，包括港珠澳大桥口岸和香港国际机场新增的投票站，使投票更加便捷，进一步彰显了香港选举安排以民为本、务实高效的特点。The broad diversity of candidates and political platforms—ranging from innovation and technology, finance, medical services and housing, to youth development, labor rights, district administration and integration into national strategies—demonstrates that the new electoral system not only upholds the principle of "patriots administering Hong Kong" but also provides a wider stage for patriots of different backgrounds to contribute fresh ideas and practical solutions. As LegCo President Andrew Leung Kwan-yuen noted, the candidates' varied expertise will inject new dynamism into the legislature and bring a renewed vitality to policymaking.候选人和政治纲领的广泛多样性，从创新科技、金融、医疗服务和住房，到青年发展、劳工权益、地区行政和融入国家战略都表明新选举制度不仅坚持了“爱国者治港”的原则，也为不同背景的爱国人士提供了更广阔的舞台，让他们贡献新思路和切实可行的解决方案。正如立法会主席梁君彦所言，候选人多元化的专业背景将为立法机构注入新活力，为政策制定带来新气象。The election carries special significance in light of the recent deadly fire in Tai Po. Voters in the district, including those directly affected, said that participating in the election is an active commitment to rebuilding their homes and strengthening Hong Kong's resilience.鉴于近期大埔发生的致命火灾，此次选举具有特殊意义。该区选民，包括直接受灾者，表示参与选举是重建家园、增强香港韧性的积极承诺。Eric Chan Kwok-ki, chief secretary for the Hong Kong SAR government, stressed that electing capable and aspirational LegCo members is essential for post-disaster reconstruction and to maintaining the continuity and effectiveness of governance. From Chief Executive John Lee Ka-chiu's repeated calls for civil servants to set an example, to large enterprises granting time off for employees to vote, and patriotic groups on the mainland organizing members to return to Hong Kong to cast their ballots, society's strong support has created an enthusiastic election atmosphere.香港特别行政区政府政务司司长陈国基强调，选举出有能力、有抱负的立法会议员，对灾后重建以及维持管治的连续性和有效性至关重要。从行政长官李家超多次呼吁公务员带头示范，到大型企业为员工安排投票假期，再到内地爱国团体组织成员返港投票，社会各界的鼎力支持营造出热烈的选举氛围。The four-year term of the eighth Legislative Council will largely overlap with the implementation of the 15th Five-Year Plan (2026-30) of the country. As Hong Kong enters a new stage of transitioning from stability to prosperity, the new LegCo will shoulder heavy responsibilities: accelerating economic transformation, improving people's livelihoods, strengthening district governance, advancing integration into national development, and ensuring that "one country, two systems" is steadily practiced for the long term.第八届立法会的四年任期将与国家第十五个五年规划（2026-2030年）的实施期基本重合。随着香港进入从稳定走向繁荣的新阶段，新一届立法会肩负着重大责任：加速经济转型、改善民生、加强地区治理、推进融入国家发展，并确保“一国两制”长期稳定实施。The design and improvement of Hong Kong's electoral system are purely internal affairs of China, and no foreign country has the right to interfere in them. The Office for Safeguarding National Security of the Central People's Government in the HKSAR summoned representatives of some overseas media in Hong Kong regarding recent false information and malicious smear campaigns surrounding the Tai Po fire and the LegCo election. This is a timely reminder that some external parties are still looking for opportunities to make trouble in the SAR despite the implementation of the National Security Law of Hong Kong.香港选举制度的设计和完善纯属中国内政，任何外国都无权干涉。中央人民政府驻香港特别行政区维护国家安全办公室就近期围绕大埔火灾及立法会选举的虚假信息和恶意抹黑活动，约见部分驻港海外媒体代表。这及时提醒我们，尽管香港《国家安全法》已实施，某些外部势力仍在寻找机会在特区制造事端。A fair, honest, safe and orderly election environment is indispensable for safeguarding the dignity of the electoral system and the rights of all voters. The SAR government has made it clear that it will resolutely crack down on illegal acts aimed at disrupting the election.一个公平、公正、安全、有序的选举环境，对维护选举制度的尊严和全体选民的权利至关重要。特区政府已明确表示，将坚决打击旨在破坏选举的违法行为。

China will continue exerting a "more proactive" fiscal policy and "moderately loose" monetary policy next year, as it strives to promote "effective qualitative improvement" and "reasonable quantitative growth" in its economy, according to a key Party leadership meeting on Monday.周一召开的党内重要领导会议指出，中国明年将继续实施“更加积极”的财政政策和“适度宽松”的货币政策，着力促进经济实现“质的有效提升”和“量的合理增长”。The meeting was convened by the Political Bureau of the Communist Party of China Central Committee to analyze and study the country's economic work in 2026. Xi Jinping, general secretary of the CPC Central Committee, presided over the meeting.中共中央政治局召开会议，分析研究2026年全国经济工作。中共中央总书记习近平主持会议。The decision-making body of the Party emphasized that the country would adhere to the overarching principle of "seeking progress while maintaining stability", and better coordinate domestic economic work and endeavors in the international economic and trade arena, as well as development and security, according to a statement released after the meeting.根据会后发表的声明，党的决策机构强调，国家将坚持“稳中求进”的总方针，更好地统筹国内经济工作与国际经济贸易领域的工作，以及发展与安全。While noting the importance of implementing more proactive and effective macroeconomic policies, the decision-making body highlighted the need to enhance the foresight, targeting and synergy of policies.决策机构在强调实施更积极、更有效的宏观经济政策的重要性时，同时指出需要增强政策的预见性、针对性和协同性。It called for continuous efforts to expand domestic demand and optimize supply, develop new quality productive forces tailored to local conditions, advance the construction of a unified national market in greater depth, and prevent and defuse risks in key areas, the statement said.声明指出，要持续努力扩大内需、优化供给，发展适应本地条件的新质生产力，更深入地推进全国统一市场建设，并在重点领域防范化解风险。Efforts should be made to stabilize employment, enterprises, markets and expectations to maintain social harmony and stability, and ensure a good start for the 15th Five-Year Plan (2026-30) period, the statement added.声明补充道，应努力稳定就业、企业、市场和预期，以维护社会和谐稳定，确保第十五个五年规划（2026-2030年）时期开局良好。It was noted at the meeting that counter-cyclical and cross-cyclical adjustments should be strengthened to effectively enhance the efficiency of macroeconomic governance.会议指出，应加强逆周期和跨周期调节，切实提升宏观经济治理效能。The meeting called for building a robust domestic market by expanding domestic demand, stepping up fostering new growth drivers by promoting innovation-driven development, enhancing the momentum and vitality of high-quality growth by deepening reform, and bolstering win-win cooperation across various fields by adhering to opening-up.会议强调，要通过扩大内需来建设强劲的国内市场，通过推动创新驱动发展来培育新的增长引擎，通过深化改革来增强高质量发展的动能和活力，并通过坚持开放来促进各领域共赢合作。The meeting also underlined the need to promote urban-rural integration and coordinated development across the regions, drive green transformation on all fronts, prioritize people's livelihoods, and bear in mind the worst-case scenarios to resolve risks in key areas in a proactive and prudent manner.会议还强调，要推进城乡融合发展和区域协调发展，全面推进绿色转型，着力改善民生，并以最坏的情况为准备，积极审慎化解重点领域的风险。During the meeting, a set of regulations on the CPC's leadership over law-based governance in all respects was reviewed.会议审议通过了《中共中央全面依法治国领导条例》。Historically, the Political Bureau's December meeting has been closely followed by the annual Central Economic Work Conference, which typically sets the tone for economic work in the year ahead.历年来，中共中央政治局12月会议之后紧接着召开的中央经济工作会议，通常为来年经济工作定下基调。China's gross domestic product grew 5.2 percent year-on-year in the first three quarters of 2025 despite rising external headwinds, and attention is now shifting to next year, the start of China's 15th Five-Year Plan period.尽管外部逆风加剧，中国2025年前三季度国内生产总值同比增长5.2%，目前关注焦点正转向明年——中国第十五个五年规划周期的开端。Ahead of Monday's Political Bureau meeting, the CPC Central Committee held a symposium with non-CPC personages on Wednesday in Beijing to solicit their opinions and suggestions on this year's economic situation and economic work for 2026.在周一政治局会议召开前夕，中共中央上周三在北京召开非党人士座谈会，听取他们对今年经济形势和2026年经济工作的意见建议。At the symposium, representatives of non-CPC personages gave their suggestions on a number of issues, including optimizing industrial layout, expanding domestic demand and high-standard opening-up, enhancing people's well-being, and boosting high-quality employment.在座谈会上，非党代表人士就优化产业布局、扩大内需和高标准开放、提升民生福祉、促进高质量就业等若干问题提出了建议。Xi presided over the symposium and delivered an important speech. He emphasized that the supporting conditions and fundamental trend for long-term economic growth in China remain unchanged.习近平主席主持座谈会并发表重要讲话。他强调，中国经济长期向好的基本面没有改变，支撑经济持续增长的条件没有改变。He called for remaining confident, leveraging China's strengths and tackling challenges, and working to consolidate and expand the positive momentum in the economic upturn in order to make a good start in implementing the 15th Five-Year Plan.习近平主席呼吁保持信心，发挥中国优势，应对挑战，努力巩固和扩大经济复苏的积极势头，为实施十五规划开好头。He said that the CPC Central Committee had implemented more proactive and effective macro policies this year, and the main goals for economic and social development are expected to be accomplished.习近平主席表示，中共中央今年实施了更积极、更有效的宏观政策，经济社会发展主要目标有望实现。Xi noted that China has effectively navigated various shocks and challenges over the past five years. As the 14th Five-Year Plan (2021-25) is set to approach a successful conclusion, the country's strengths in the economy, science and technology, and comprehensive national strengths have been significantly enhanced, he said.习近平主席指出，过去五年，中国有效应对了各种冲击和挑战。随着“十四五”规划（2021-2025年）即将圆满收官，我国经济实力、科技实力、综合国力都得到了显著增强。Noting that non-CPC personages had carried out in-depth research on key issues arising in economic and social development and provided important references for the CPC Central Committee's scientific decision-making, Xi expressed thanks to them on behalf of the CPC Central Committee.习近平指出，非中共人士对经济社会发展中的重大问题进行了深入研究，为中共中央科学决策提供了重要参考。他代表中共中央向他们表示感谢。Xi called on them to actively contribute their wisdom and efforts to the formulation and implementation of the 15th Five-Year Plan, conduct in-depth research on topics such as building a modern industrial system, developing new quality productive forces tailored to local conditions, and establishing a strong domestic market, and put forward their opinions and suggestions.习近平主席号召他们积极为制定和实施十五五规划贡献智慧和力量，深入研究建设现代工业体系、培育适应本地特点的新质生产力、壮大国内市场等课题，并提出意见和建议。

We bespreken hoe China met ingenieurs, plannen en fabrieken de wereld verbouwt en wat dit ons leert over onze omgang met strategie, regels en onze economie. Voor deze aflevering lazen we de bestseller 'Breakneck' van Dan Wang en het nieuwe 15e vijfjarenplan van Xi Jinping. We proberen China niet alleen als rivaal, maar vooral als spiegel te gebruiken. We bespreken China als “engineering state” die in duizelingwekkend tempo spoorlijnen, fabrieken en groene industrie uit de grond stampt, gedreven door proceskennis, industriepolitiek en een staat die echt kan uitvoeren. Tegelijk schuurt het: overcapaciteit, vastgoedcrisis, deflatie, sociale experimenten en massasurveillance laten zien wat er misgaat als je een samenleving als optimalisatie probleem behandelt. Daartegenover staat een Westen – en dan vooral de Verenigde Staten – dat steeds meer lijkt op een “lawyerly society”: stapels procedures, bezwaar, fondsen en strategieën, maar moeite om te kiezen, te bouwen en door te pakken. We vragen ons af: kunnen wij net zo serieus worden over maakindustrie, energie-infrastructuur en strategische autonomie, zonder onze democratische rechtsstaat op te geven? Wat leert ons dit over Europa, of de 'Mausoleum economy'? Wat betekent China's combinatie van langetermijnplannen, technologische zelfredzaamheid en veiligheidsdenken voor onze eigen keuzes over industriebeleid, migratie en talent, digitale technologie en de verleiding van social engineering met data en AI? En: zijn we in Nederland nu eigenlijk een land van ingenieurs of van juristen – en wat kost ons dat? Zoals je van Studio Tegengif verwacht proberen we complexe zaken toegankelijk te bespreken. Deze aflevering werd gemaakt met ondersteuning van Wim Brons van remotepodcast.nl. Een aanrader voor als je op afstand een podcast wil maken met fantastische geluidskwaliteit. Wil je ons steunen? Dat kan: je kunt vriend van de show worden:
https://vriendvandeshow.nl/studio-tegengif ***SHOWNOTES*** Dan Wang, Breakneck: China's Quest to Engineer the Future (2025) https://www.bol.com/nl/nl/p/breakneck/9300000220027510/?cid=1765228195254-6068955890919&bltgh=eb568c96-2031-4c99-bd4b-1a302b288dab.ProductList_Middle.0.ProductImage Xi Jinping, Explanation of the Recommendations of the Central Committee of the Communist Party of China for Formulating the 15th Five-Year Plan for National Economic and Social Development (2025) https://english.www.gov.cn/news/202510/28/content_WS6900ad32c6d00ca5f9a07212.html Full text: Explanation of the Recommendations of the Central Committee of the Communist Party of China for Formulating the 15th Five-Year Plan for National Economic and Social Development (2025) https://english.news.cn/20251028/efbfd0c774fd4b1c8daeb741c0351431/c.html

In today's world, anyone serious about anti-imperialism, global development, and monetary sovereignty needs to break through the well-funded US propaganda machine and develop a fact-based, nuanced understanding of China. To this end, Steve asked Yan Liang to come back to the podcast to look at China through the MMT lens, analyzing its economic management, global role, and response to Western villainization. They discuss China's development ethos and describe China as a state that actively uses its monetary and fiscal sovereignty to guide development towards internal goals (poverty alleviation, technological self-reliance, common prosperity) and external partnership (Win-win cooperation, Belt and Road Initiative). Illustrating the difference between state steering and the so-called “free market,” the conversation goes into China's mobilization of real resources through strategic state guidance, like Five-Year Plans and state-owned enterprises in key sectors. Yan talks about the use of capital controls and a managed exchange rate. She details lessons from 2015 and the application of MMT principles to insulate domestic policy from volatile external forces. Without romanticizing China, Yan also walks through its real challenges. But from an MMT-aware lens, these are seen as problems of policy design and resource use (issues a sovereign, planning-oriented state can address!) rather than proof of an impending collapse. Yan Liang is Peter C and Bonnie S Kremer Chair Professor of Economics at Willamette University. She is also a Research Associate at the Levy Economics Institute, a Non-Resident Senior Fellow at the Global Development Policy Center (Boston University), and a Research Scholar of the Global Institute for Sustainable Prosperity. Yan specializes in the Modern Monetary Theory (MMT), the Political Economy of China, Economic Development, and International Economics. Yan's current research focuses on China's development finance and industrial transformation, and China's role in the global financial architecture. https://www.linkedin.com/in/yan-liang-1355b91a2/ @YanLian31677392 on X

China will deepen multilateral cooperation on green technologies, support its new energy vehicle, battery and photovoltaic enterprises in expanding globally, and accelerate the low-carbon transition of its sprawling manufacturing sector, said the nation's top industry regulator.中国工业主管部门负责人表示，中国将深化绿色技术的多边合作，支持新能源汽车、电池和光伏企业“走出去”，并加快庞大制造业体系的低碳转型。Li Lecheng, minister of industry and information technology, said in an exclusive signed article written for China Daily that when global climate governance encounters setbacks and some nations are backsliding on their commitments, China's determination to pursue a green transition in manufacturing underlines its drive to foster new quality productive forces and pursue high-quality development.工业和信息化部部长李乐成在为《中国日报》撰写的署名文章中表示，当全球气候治理遭遇挫折、部分国家在承诺上出现倒退时，中国坚持推动制造业绿色转型，凸显了其培育新质生产力、推动高质量发展的决心。China will "encourage competitive Chinese enterprises in photovoltaics, wind power, lithium batteries and new energy vehicles to expand globally and to invest in and develop green energy projects in countries and regions involved in the Belt and Road Initiative and beyond", Li said.李乐成表示，中国将“鼓励具有竞争力的光伏、风电、锂电和新能源汽车企业加快全球布局，在共建“一带一路”国家和其他地区投资并开发绿色能源项目”。President Xi Jinping announced China's new Nationally Determined Contributions in his video speech in September to the United Nations Climate Summit 2025. Xi said that China will, by 2035, expand the installed capacity of wind and solar power to over six times the 2020 levels, striving to bring the total to 3,600 gigawatts, and make new energy vehicles the mainstream in the sales of new vehicles.习近平主席在今年9月的联合国2025气候峰会视频讲话中宣布了中国新的国家自主贡献目标。他指出，到2035年，中国风电和光伏装机容量将扩大到2020年的六倍以上，总装机规模力争达到3600吉瓦，同时让新能源汽车成为新车销售的主流。"The deep impetus for the green transition of China's sprawling manufacturing sector stems from President Xi's ecological civilization concept," Li said, adding that China's new NDC targets demonstrate a pragmatic and actionable ambition for emission reductions.李乐成称，“中国庞大制造业推进绿色转型的根本动力源自习近平生态文明思想”，新的国家自主贡献目标体现了务实且可操作的减排雄心。Highlighting that "China has built the world's largest new energy industry chain", Li said the country's renewable energy products are exported to over 200 countries and regions. Such products meet more than 80 percent of the global demand for photovoltaic modules and 70 percent of the global demand for wind power equipment. Meanwhile, over half of the world's electric vehicles run on Chinese roads.李乐成强调，“中国已建成全球规模最大的新能源产业链”，其可再生能源产品出口至200多个国家和地区，供应全球80%以上的光伏组件需求和70%的风电装备需求。同时，全球超过一半的电动汽车在中国道路上运行。"China has also collaborated with more than 100 countries and regions on green energy projects. ... These initiatives demonstrate the tangible impact of Chinese solutions in helping other developing nations address climate change while fostering economic growth," Li added.他补充说，“中国已与100多个国家和地区开展绿色能源合作项目……这些举措展示了中国方案在帮助广大发展中国家应对气候变化、促进经济增长方面的实质性成效”。According to Li, from 2021 to 2024, China produced about 15.6 trillion kilowatts of photovoltaic modules, which has helped the world generate about 3.2 trillion kilowatt-hours of green electricity and reduce carbon dioxide emissions by roughly 2.54 billion metric tons.据李乐成介绍，2021至2024年，中国生产光伏组件约15.6万亿千瓦，可帮助全球产生约3.2万亿千瓦时绿色电力，减少约25.4亿吨二氧化碳排放。China will also promote international cooperation in green infrastructure and transportation solutions, and actively participate in shaping international green and low-carbon regulations, he said.他表示，中国还将推动绿色基础设施和绿色交通方案的国际合作，并积极参与制定全球绿色低碳规则。Li outlined a systematic approach to reinforcing the green development of China's manufacturing economy, focusing on modernizing the industrial system, building green supply chains and deepening international cooperation.李乐成指出，中国将通过系统化路径推动制造业绿色发展，重点包括现代化产业体系建设、绿色供应链构建及深化国际合作。"China will strategically plan and deploy future-oriented energy and manufacturing industries, including hydrogen energy, energy storage, bio-manufacturing and carbon capture, utilization and storage," he said.他说，“中国将前瞻性布局氢能、储能、生物制造以及碳捕集、利用与封存（CCUS）等未来能源与制造业方向”。The senior official also emphasized technological innovation as the core driver for sustainable development. Nearly half of Chinese enterprises engaged in or planned green tech innovation in 2024, according to data from the China National Intellectual Property Administration.这位高层官员同时强调，技术创新是可持续发展的核心动力。国家知识产权局数据显示，2024年近一半中国企业已开展或计划开展绿色技术创新。"Over the past decade, China has contributed to a cumulative reduction of over 60 percent and 80 percent, respectively, in the global average levelized cost of electricity for wind power and solar photovoltaic technologies," Li said.李乐成表示，“过去十年，中国促使全球风电与光伏发电的平准化成本分别下降超过60%和80%”。"An ancient Chinese proverb reads: 'Those who persevere in action will achieve their goals.' ... No matter how the international landscape shifts, (China's manufacturing industry) remains committed to honoring its pledge of building a community with a shared future for mankind through tangible green initiatives," he added.他引用古语：“行而不辍，未来可期。”并补充称，无论国际形势如何变化，中国制造业都将继续以实际绿色行动践行构建人类命运共同体的承诺。He Kebin, an academician of the Chinese Academy of Engineering, said: "After decades of efforts, China has taken the lead in research and development, and in the large-scale engineering application of new energy technologies. Its mature and cost-competitive technical solutions are becoming increasingly sought-after in the global market.中国工程院院士何科斌表示：“经过数十年的努力，中国已在新能源技术研发以及大规模工程化应用方面走在世界前列，其成熟且具成本优势的技术方案正在全球市场中备受青睐。”"In the 15th Five-Year Plan (2026-30) period, China's unique expertise will provide crucial support for other countries that are rich in wind and solar resources but have weak grid foundations," the academician said.他指出，“在‘十五五'时期（2026—2030年），中国的独特技术能力将为那些风光资源丰富、但电网基础薄弱的国家提供重要支持”。He Xiaopeng, CEO of Chinese auto company Xpeng Motors, said that China "possesses distinct advantages in industrial chain and artificial intelligence, complemented by strengths in efficiency, cost, quality and scale", adding that "these factors can empower the global expansion of China's new energy vehicles".中国汽车企业小鹏汽车的首席执行官何小鹏表示，中国“在产业链和人工智能方面具有独特优势，并在效率、成本、质量和规模上占据显著长处”，这些因素将推动中国新能源汽车加快全球化布局。low-carbon transition 低碳转型Nationally Determined Contributions (NDCs)国家自主贡献installed capacity装机容量photovoltaic modules光伏组件carbon capture, utilization and storage (CCUS)碳捕集、利用与封存

China is likely to extend the consumer goods trade-in program into 2026, as analysts said there is still substantial, unmet demand among Chinese households to upgrade home appliances and digital devices, as well as ample fiscal headroom to underpin the consumption campaign.分析人士表示，由于中国家庭对家电和数码设备升级的需求仍有较大缺口，且有充足的财政空间支持这项消费刺激举措，中国可能会将消费品以旧换新政策延续至2026年。The initiative, proven effective in driving big-ticket item spending and delivering tangible benefits to households, is expected to enable China to begin the 15th Five-Year Plan (2026-30) period on a sound footing, they added.他们补充称，该举措已被证实能有效拉动大额商品消费，并为家庭带来切实利益，有望助力中国在“十五”规划（2026-2030年）开局之年奠定良好基础。China's trade-in program is a government-backed initiative to boost domestic consumption by providing subsidies for consumers who trade in outdated items like white goods, automobiles and electronics for new, more efficient models.中国的以旧换新政策是一项政府支持的举措，通过为消费者提供补贴，鼓励其将家电、汽车和电子产品等老旧物品置换为新型、高效的产品，从而提振国内消费。Although an official announcement has not yet been made, multiple policy signals and clear market trends — particularly the shift toward smart and green products — suggest an extension is possible.尽管官方尚未发布正式通知，但多项政策信号和明确的市场趋势——尤其是向智能、绿色产品的转型——表明该政策有望延续。This likelihood was reinforced by the State Council, the country's Cabinet, which set explicit targets for aging vehicles and outdated appliance recycling volume through 2027 in a March 2024 document that launched the current trade-in round.2024年3月，国务院（中国内阁）发布文件启动本轮以旧换新工作，并明确设定了截至2027年的老旧车辆和废旧家电回收量目标，这进一步强化了政策延续的可能性。In addition, the 2024 Government Work Report pledged to issue ultra-long special treasury bonds "over each of the next several years". These bonds have served as the funding mechanism of the trade-in initiative.此外，2024年《政府工作报告》承诺“在今后几年每年”发行超长期特别国债。这些债券已成为以旧换新举措的资金保障机制。These policy statements, coupled with Beijing's emphasis on boosting household consumption in its recommendations for the next five-year blueprint released last month, indicate that policymakers are likely to extend the trade-in program into 2026, according to market watchers.市场观察人士指出，这些政策表述，加之北京上月发布的下一个五年规划建议中对扩大居民消费的重视，表明政策制定者可能会将以旧换新政策延续至2026年。Wang Wei, former director of the Institute of Market Economy at the Development Research Center of the State Council, told China Daily in an exclusive interview that while stimulating consumption has been top economic priority this year, it will also remain crucial in 2026 — the inaugural year of the 15th Five-Year Plan.国务院发展研究中心市场经济研究所前所长王微在接受《中国日报》独家采访时表示，尽管刺激消费是今年的首要经济任务，但在2026年——“十五”规划的开局之年，这一任务仍将至关重要。Maintaining a pro-consumption macroeconomic orientation is essential, which requires a further scaling-up of targeted fiscal spending in this regard, Wang said, adding that the mechanism of ultra-long special treasury bonds, deployed for the trade-in program in 2024 and 2025, should be extended into next year.王微称，保持有利于消费的宏观经济导向至关重要，这需要进一步加大相关定向财政支出力度。2024年和2025年用于以旧换新政策的超长期特别国债机制，应延续至明年。Yu Xiangrong, chief China economist at Citi, said that the funding pool for the trade-in program in 2026 is expected to remain at around 300 billion yuan ($41.3 billion), unchanged from the levels seen in 2025.花旗集团首席中国经济学家余向荣表示，2026年以旧换新政策的资金规模预计将维持在3000亿元人民币（约合413亿美元）左右，与2025年持平。Yu said the policy emphasis will shift from sheer scale to smarter allocation by expanding the range of eligible products and extending the program's reach into rural communities.余向荣指出，政策重心将从单纯追求规模转向更合理的资源配置，具体包括扩大补贴覆盖产品范围，并将政策推广至农村地区。A faster-than-expected issuance of national subsidies for consumer goods trade-ins in the first half of the year has tightened availability in recent months, leaving a pool of unmet demand that analysts say will help make the case for extending the program into 2026.今年上半年，消费品以旧换新国家补贴的发放速度超出预期，导致近几个月补贴额度紧张，市场上仍存在一批未得到满足的需求。分析人士认为，这将为政策延续至2026年提供有力支撑。Looking into next year, Xu Dongsheng, vice-chairman of the China Household Electrical Appliances Association, said that policymakers could consider setting differentiated incentive rates based on a product's price bracket and technological profile.展望明年，中国家用电器协会副理事长徐东升表示，政策制定者可考虑根据产品的价格区间和技术特性，设定差异化的补贴比例。Premium products, particularly those with AI integration, higher-efficiency and environmentally friendly features, could receive a higher subsidy proportion. These categories, seen as drivers of future industry trends, align with national priorities for technological advancement and carbon neutrality. Meanwhile subsidies for basic, functionally straightforward products would be scaled back appropriately, Xu said.徐东升称，高端产品，尤其是集成人工智能、能效更高且具备环保特性的产品，可能会获得更高比例的补贴。这些品类被视为未来产业发展趋势的驱动力，与国家技术进步和碳中和的核心目标相契合。同时，针对基础款、功能简单产品的补贴将适当缩减。According to an executive meeting of the State Council on Friday, industrial upgrading must be guided and propelled by consumption upgrading, where high-quality supply better satisfies diverse demand.国务院周五召开的常务会议指出，必须以消费升级引领和推动产业升级，通过高质量供给更好满足多样化需求。It is essential to deploy new technologies and business models, deeply integrate AI to enhance their capabilities, and concentrate efforts on key sectors to introduce novel products and value-added services, thereby expanding new consumption frontiers, as noted during the meeting.会议强调，要运用新技术、新模式，深度融合人工智能提升产品和服务能力，聚焦重点领域推出新产品和增值服务，拓展新消费空间。trade-in program以旧换新政策ultra-long special treasury bonds超长期特别国债fiscal spending财政支出big-ticket item spending大额商品消费white goods白色家电（特指冰箱、洗衣机等大型家电，政策补贴品类）

In this episode of the ChinaPower Podcast, Dr. Elizabeth Economy examines the key outcomes of China's Fourth Plenum and what they reveal about Beijing's evolving economic priorities and push for technological self-reliance ahead of the release of the 15th Five-Year Plan. She discusses China's strategy in the U.S.-China trade war, including its expanding retaliatory toolkit, rare-earth export controls, and the global pushback triggered by China's industrial overcapacity. She concludes by assessing how domestic pressures and external frictions will shape China's policy direction and its economic engagement with the United States over the next few years. Dr. Elizabeth Economy is the Hargrove Senior Fellow and co-chair of the Program on the US, China, and the World at the Hoover Institution. From 2021 to 2023, she served as the senior advisor for China in the Department of Commerce. Dr. Economy was previously at the Council on Foreign Relations, where she served as the C.V. Starr Senior Fellow and director for Asia Studies for over a decade.

This week's "At her Career Crossroads" insight comes from me. I say — "The moment I took that one small step, clarity followed. I didn't need the whole plan. I just needed momentum. The first step showed me the next one. And that's how clarity works. It's not something you find by standing still. It's something that unfolds as you move." Here are 3 reasons why you should listen to this episode: You'll hear why the pressure to map out your entire future can keep you stuck, and why one aligned step is often enough to shift your path. You'll get a clearer understanding of how fear can show up as "being prepared," and how to tell when planning has quietly turned into waiting. You'll walk away with a simple reflection prompt that helps you name where you're stuck and choose one doable step toward momentum. I'm a professor, speaker, author, coach, and creator of the PurposeMAKER philosophy, helping high-achieving women close the gap between success and fulfillment so they can move with more clarity and purpose. If you're ready to go deeper, or if you've been standing at a crossroads sensing that your next chapter is calling but you're not sure how to move forward, I created something for you. It's called Clarity for What's Next. It's a short, self-paced audio course that helps you pause, listen, and find your next right step with more confidence, clarity, and purpose. You can find it at: http://leadershippurposeinstitute.com/clarity   Would you prefer to watch or listen to the podcast on YouTube?Head on over to https://www.youtube.com/@leadershippurposepodcast   Want to connect? Connect with Dr. Robin on  LinkedIn: https://www.linkedin.com/in/robinlowensphd/ Facebook: https://www.facebook.com/robinlowensphd Instagram:  https://www.instagram.com/robinlowensphd/ Email: Robin@LeadershipPurposePodcast.com   Thank you for listening! Rate, review, & follow on Apple Podcasts or your favorite podcast player. Talk to you soon!   This episode was produced by Lynda, Podcast Manager for GenX Creative Entrepreneurs at https://www.ljscreativeservices.co.nz

China's Economic Slump: Export Decline, Policy Failures, and Property Market Stagnation Guests: Anne Stevenson-Yang and Gordon Chang Anne Stevenson-Yang and Gordon Chang discussed the unprecedented slump in China's economic activity, noting cooled investment and slowing industrial output, with exports falling 25% to the US, attributing this long-term decline to the government's 2008 decision to pull back economic reforms and the current 15th Five-Year Plan lacking viable solutions or bailouts for hurting localities, while consumption remains dangerously low (around 38% of GDP) and is expected to shrink further as the government prioritizes technological development and factory production, with the property market collapsing as capital investment, land sales, and unit prices decline, forcing people to hold onto decaying apartments and risking stagnation for decades similar to Japan post-1989, a problem largely self-created due to overcapacity, although other countries like Brazil are also restricting Chinese imports.

SHOW 11-17-25 CBS EYE ON THE WORLD WITH JOHN BATCHELOR 1899 UKRAINE THE SHOW BEGINS IN THE DOUBTS ABOUT POTUS... FIRST HOUR 9-915 Pakistan's Military Dominance: Field Marshal Munir's Power and US Relations Guest: Ambassador Husain Haqqani Ambassador Husain Haqqani detailed the institutional dominance of Pakistan's military, noting that Parliament recently granted Field Marshal Asim Munir legal immunity for life and expanded his power by designating him Chief of Defense Forces, giving him control over the entire military, as Munir aims for presidential privileges without directly taking power, backed by a national narrative that Pakistan is perpetually under threat from India, and gained significant political and psychological advantage through two meetings and praise from President Trump, despite no new US aid or weapons, while Trump, who favors strongmen, may also be using this praise to leverage concessions from Indian Prime Minister Modi, as Munir is taking risks by adopting a firmer stance regarding violence on the Northwest frontier with the Taliban, an approach not well received by the Afghans, with Pakistani politicians historically conceding ground to the military to secure a shared portion of power. 915-930 CONTINUED Pakistan's Military Dominance: Field Marshal Munir's Power and US Relations Guest: Ambassador Husain Haqqani Ambassador Husain Haqqani detailed the institutional dominance of Pakistan's military, noting that Parliament recently granted Field Marshal Asim Munir legal immunity for life and expanded his power 930-945 China's Economic Slump: Export Decline, Policy Failures, and Property Market Stagnation Guests: Anne Stevenson-Yang and Gordon Chang Anne Stevenson-Yang and Gordon Chang discussed the unprecedented slump in China's economic activity, noting cooled investment and slowing industrial output, with exports falling 25% to the US, attributing this long-term decline to the government's 2008 decision to pull back economic reforms and the current 15th Five-Year Plan lacking viable solutions or bailouts for hurting localities, while consumption remains dangerously low (around 38% of GDP) and is expected to shrink further as the government prioritizes technological development and factory production, with the property market collapsing as capital investment, land sales, and unit prices decline, forcing people to hold onto decaying apartments and risking stagnation for decades similar to Japan post-1989, a problem largely self-created due to overcapacity, although other countries like Brazil are also restricting Chinese imports. 945-1000 China's Role in Global Drug Epidemics: Meth Precursors and Weaponizing Chemicals. Guests: Kelly Curry and Gordon Chang. Kelly Curry and Gordon Chang detailed China's crucial role in the global drug trade, asserting that China's chemical exports are fueling a "tsunami of meth" across Asia. Chinese manufacturers supply meth precursor chemicals to warlords, notably the Chinese-aligned, US-sanctioned United Wa State Army in Myanmar. This production (Yaba/ice) is believed to have been diverted from China's domestic market in the 1990s. Both guests confirmed this activity is impossible without the explicit knowledge and support of the Central Committee, noting China grants export subsidies, tax rebates, and uses state banks for money laundering associated with the drug trade. China benefits financially and strategically by weakening US-backed allies like Thailand and South Korea who are flooded with the drugs. This structure mirrors the fentanyl crisis in North America, and experts predict increasing co-production and sharing of chemical methods between Asian drug groups and Mexican cartels. SECOND HOUR 10-1015 Syria's Complex Geopolitics: Air Bases, Sanctions, Accountability, and Great Power Mediation Guest: Ahmad Sharawi Ahmad Sharawi discussed the non-transparent situation in Syria, focusing on reports of potential US air bases (Mezzeh and Dumayr), with denials from the Syrian government suggesting they won't possess the bases but might allow US use for counter-ISIS missions or potentially a security agreement requested by Israel for deconfliction, noting a recent US C-130 spotted landing at the Mezzeh air base near Damascus, while during a reported White House visit, Syrian requests included the removal of Caesar sanctions (partially waived by President Trump) and an Israeli withdrawal from the southern border buffer zone, with domestic movement towards accountability for the Suwayda province massacre and government security forces being arrested, as a Russian military delegation visited Damascus and southern Syria, potentially acting as a deconfliction mechanism between Syria and Israeli forces, with Russia's goal appearing to be balancing regional interests while maintaining its bases in western Syria. 1015-1030 CONTINUED Syria's Complex Geopolitics: Air Bases, Sanctions, Accountability, and Great Power Mediation Guest: Ahmad Sharawi Ahmad Sharawi discussed the non-transparent situation in Syria, focusing on reports of potential US air bases (Mezzeh and Dumayr), with denials from the Syrian government... 1030-1045 Venezuela Crisis: Potential Maduro Exit and Shifting Political Tides in Latin America Guests: Ernesto Araújo and Alejandro Peña Esclusa Alejandro Peña Esclusa and Ernesto Araújo discussed the crisis in Venezuela, noting a powerful US fleet gathered nearby, with Maduro fearing military intervention and reportedly wanting to discuss surrender conditions with President Trump, though his exit is complicated by his ally Diosdado Cabello, who heads operations for the Cartel of the Suns and has no path for redemption, while Maduro's potential fall would deliver a severe blow to the organized crime and drug trafficking networks that permeate South America's political structures, with the opposition, led by María Corina Machado, having transition plans, and Brazilian President Lula neutralized from strongly opposing US actions due to ongoing tariff negotiations with Trump, as the conversation highlighted a new conservative political wave in Latin America, with optimism reported in Argentina following elections that strengthened Javier Milei, and in Chile, where conservative José Antonio Kast is strongly positioned, representing a blend of economic freedom, anti-organized crime platforms, and conservative values. 1045-1100 CONTINUED Venezuela Crisis: Potential Maduro Exit and Shifting Political Tides in Latin America Guests: Ernesto Araújo and Alejandro Peña Esclusa Alejandro Peña Esclusa and Ernesto Araújo discussed the crisis in Venezuela, noting a powerful US fleet gathered nearby, with Maduro fearing military intervention and... THIRD HOUR 1100-1115 1/4 Jews Versus Rome: Two Centuries of Rebellion and the Cost of Diaspora Revolts Professor Barry Strauss of Cornell University, Professor Emeritus and Senior Fellow at the Hoover Institution, discusses the history of Jewish resistance against the Roman Empire as detailed in his book Jews versus Rome. Following the destruction of the Temple and Jerusalem, rebellion continued among Jewish communities scattered across the Roman world. 1115-1130 CONTINUED 2/4 During Emperor Trajan's campaign against the Parthian Empire, a widespread and coordinated "diaspora revolt" erupted in 115–117 AD, beginning in Libya and spreading to Egypt, Cyprus, and Mesopotamia. This was a major challenge, forcing Trajan to divert a legion, as Egypt was the empire's strategic breadbasket. The revolt was spurred by the insulting Jewish tax, the fiscus Judaicus, paid to Jupiter, and the frustrated expectation that the Temple would be rebuilt within 70 years. The Jewish community in Alexandria, possibly the largest Jewish city in the ancient world, was wiped out during the suppression, a disaster for diaspora Judaism. 1130-1145 CONTINUED 3/4 srajan's successor, Hadrian, revered the war against Parthia but recognized the Jews' disloyalty. Starting in 117 AD, Hadrian planned to rebuild Jerusalem as a pagan city named Aelia Capitolina to demonstrate that the Temple would never be restored and to discourage collusion between Jews and Parthians. This provoked the Bar Kokhba Revolt in 132 AD. The leader, Simon Bar Kosa, took the messianic title Bar Kokhba, meaning "Son of the Star," and was accepted as the Messiah by some leading rabbis, including Rabbi Akiva. 1145-1200 CONTINUED The rebels utilized successful asymmetrical warfare, operating from underground tunnel systems and ambushing Roman forces. The conflict was so severe that Hadrian deployed reinforcements from across the empire, including Britain, and the Roman army was badly mauled. The revolt ended bloodily at the stronghold of Betar. As lasting punishment for centuries of trouble and rebellion, the Romans renamed the province from Judea to Syria Palestina. Pockets of resistance continued, notably the Gallus Revolt in 351–352 AD. Guest: Professor Barry Strauss. FOURTH HOUR 12-1215 Iran's Multi-Faceted Crises: Water Scarcity, Pollution, and Transnational Repression Guest: Jonathan Sayah Jonathan Sayah discussed the multi-faceted crises plaguing Iran, reflecting poor management and ecological decline, with Tehran overwhelmed by severe water scarcity as dams dry up and crippling air pollution with CO2 levels 10 times the WHO standard, while the water crisis is worsened by the regime, especially IRGC-affiliated contractors, who prioritize their support base through unregulated mega-projects, leading to rivers and lakes drying up, a deliberate deprivation of clean water that constitutes a human rights violation, as environmental disasters have driven widespread internal migration into Tehran, taxing infrastructure and leading to issues like land subsidence, with the population considered "prime for unrest," while separately, Iran continues its policy of transnational repression, highlighted by the recent foiled plot to assassinate Israel's ambassador in Mexico, as Iran targets both Israeli/American officials and relies on criminal networks to repress Iranian dissidents abroad, while consistently holding American dual citizens hostage as political leverage. 1215-1230 CONTINUED 1230-1245 Ukraine Conflict: French Arms Deal, Sabotage, and the Perilous Battle for Pokrovsk. Guest: John Hardy. John Hardy reported that Ukraine signed a letter of intent with France to obtain 100 Rafale warplanes over 10 years, along with air defense systems. While this partnership is encouraging, Hardy expressed concern that Ukraine is excessively over-diversifying its future air fleet (including F-16, Grippen, Mirage, and Rafale) which complicates long-term sustainment and maintenance. Simultaneously, alarming reports surfaced that sabotage was blamed for an explosion on a major railway line in Poland used to supply Ukraine, fitting a pattern of suspected Russian covert operations against European infrastructure. On the battlefield, fighting continues in Pokrovsk (Picro). Hardy warned that if Ukrainian forces prioritize a politically motivated hold, they risk the encirclement and destruction of troops in nearby areas. Poor weather, such as fog, plays a significant role in the conflict, as Russians often time assaults during these conditions to impede Ukrainian aerial reconnaissance and FPV drones 1245-100 AM raq Elections and Yemen's Houthi Crackdown Guest: Bridget Toomey Bridget Toomey discussed recent developments in Iraq and Yemen, noting that Iraqi parliamentary elections saw a higher-than-expected 56% voter turnout, with preliminary results suggesting Shiite parties close to Tehran performed well and might secure enough seats to form the next government, despite internal infighting and votes remaining largely sectarian, while Prime Minister Mohammed Shia al-Sudani received credit for stability and his party performed strongly, though many Iraqis doubt the elections affect real change, believing critical decisions are made via elite backroom deals, and turning to Yemen, the Houthis announced the arrest of a purported Saudi-American-Israeli spy ring, a paranoid crackdown following Israel's successful targeting of Houthi government and military leaders in August, with arrests including 59 UN workers and prosecutors requesting the death sentence for 21, aiming to intimidate domestic dissent and signal resolve to Western and regional adversaries, especially in sensitive Houthi locations in Sana'a.

The China International Import Expo was held in Shanghai from November 5 to 10. As one of the world's largest trade fairs, it has become a flagship platform for showcasing China's commitment to high-standard and institutional opening-up — a central theme of the country's upcoming 15th Five-Year Plan. Amid global economic headwinds, China is doubling down on openness — turning its vast market into a shared space for cooperation, innovation, and growth.

China's sharpened focus on cultivating strategic emerging industries during the 15th Five-Year Plan (2026-30) period will give fresh vitality to nurturing new quality productive forces and help the country better navigate external uncertainties while maintaining its edge amid global competition, said officials, experts and company executives.Their comments came as China plans to make more efforts to accelerate the development of emerging sectors such as new energy, new materials, aerospace and the low-altitude economy during the 15th Five-Year Plan period, according to the recently unveiled Recommendations of the Central Committee of the Communist Party of China for Formulating the 15th Five-Year Plan for National Economic and Social Development.President Xi Jinping said the recommendations were initiated in line with the country's strategic development goals, recognizing the pivotal role of the next five years, and based on an in-depth analysis of both the domestic and global landscapes.Xi, who is also general secretary of the CPC Central Committee, said, "It is important that we seize this window of opportunity to consolidate and build on our strengths, remove development bottlenecks, shore up areas of weakness, seize the strategic initiative amid intense international competition, and secure major breakthroughs in strategic tasks of overall importance to Chinese modernization."The remarks were made in Xi's explanatory speech on the recommendations for formulating the 15th Five-Year Plan, delivered at the fourth plenary session of the 20th CPC Central Committee, which concluded in Beijing in late October.Yao Jun, head of the department of planning at the Ministry of Industry and Information Technology, said that "President Xi's speech is grounded in reality and forward-looking, and it has pointed the way forward for us in all our endeavors".According to Yao, the achievements during the 14th Five-Year Plan (2021-25) period have laid a solid foundation, and the strategic tasks proposed going forward are comprehensive and well-focused.Yao said, "We will anchor our work on developing new quality productive forces, driven by the deep integration of technological and industrial innovation."He added that the focus will be on intelligent, green and integrated development, moving manufacturing from scale expansion to value creation.Zhu Min, former deputy managing director of the International Monetary Fund, said the distinctive strength of China's economy lies in its strong real economy and industrial system."As China's technological capabilities continue to grow, the key challenge — and opportunity — is to effectively integrate these advancements to cultivate new industries driven by new quality productive forces. That's central to China's future economic trajectory," he said.Zhu also said such a trend is already mirrored in China's emphasis on strategic emerging industries such as new energy and the low-altitude economy. These sectors are poised for significant growth, built upon the robust momentum of China's "three new" economies — new industries, new business forms and new models — which already contributed over 18 percent to the country's GDP as of 2024, according to the National Development and Reform Commission.Zhu Keli, founding dean of the China Institute of New Economy, said, "China's goal of nurturing these frontier sectors not only reflects confidence in our own industrial capabilities but, more critically, serves as a key measure to seize the initiative in global sci-tech industrial competition."China has been the world's largest manufacturing country in terms of output for 15 consecutive years, and it ranks first globally in the output of over 220 industrial products, according to the Ministry of Industry and Information Technology."Boasting such a complete industrial system, China provides rich application scenarios and enormous market potential for technological innovation, as well as solid support for the development of new industries," Zhu added.According to Zhu, emerging pillar industries, represented by the low-altitude economy, are now capable of driving growth momentum and are transitioning from "isolated breakthroughs" to "industrial-chain-wide expansion".Tian Gangyin, founder, chairman and president of the Chinese unmanned aerial vehicle developer United Aircraft, said the blueprint mapped out for the 15th Five-Year Plan period is "inspiring and motivating".Industrial-level drones are finding applications in a wide range of fields, such as emergency rescue work, power line patrolling, farming, and surveillance and security operations, he added.Aerospace is another strategic industry that China values, and in which companies are moving fast. Hainan International Commercial Aerospace Launch Co, for instance, plans to double its number of launch pads from two to four, and push forward rocket-recovery technology, marking a major step in the country's bid to build a globally competitive commercial space hub in Wenchang, Hainan province.Yang Tianliang, chairman of the company, said: "By end-2026, we will have launch pads No 3 and No 4, along with a new technical area and telemetry station. Once completed, the facility will be able to handle more than 60 launches annually, with each pad supporting launch missions every 10 days, or even weekly."Meanwhile, China is making progress in the new energy industry, such as in nuclear energy.Wei Zhigang, chairman of Hainan Nuclear Power Co, said artificial intelligence computing fuels an exponential surge in demand for electricity, and it is increasingly difficult for the traditional energy supply to meet such a huge demand."Secure, affordable and low-carbon energy has become a key factor driving the high-quality development of the intelligent computing industry," Wei said.

Aaron Benanav discusses the second part of his ‘Beyond Capitalism' essay series in the New Left Review. In this part he lays out the institutional design of his proposal of a multi-criterial economy. Shownotes Aaron at Cornell University: https://cals.cornell.edu/people/aaron-benanav Aaron's personal website: https://www.aaronbenanav.com/ Access to Aaron's paywalled publications: https://www.aaronbenanav.com/papers Mailing List to join the Movement for Multi-Dimensional Economics: https://docs.google.com/forms/d/e/1FAIpQLSeUF7MZ2jQJXY_wHKn5xSIo-_L0tkMO-SG079sa5lGhRJTgqg/viewform Benanav, A. (2025). Beyond Capitalism—1. New Left Review, Issue 153, 65–128. https://newleftreview.org/issues/ii153/articles/aaron-benanav-beyond-capitalism-1 Benanav, A. (2025). Beyond Capitalism—2. New Left Review, Issue 154, 97–143. https://newleftreview.org/issues/ii154/articles/aaron-benanav-beyond-capitalism-2 Benanv, A. (2020). Automation and the Future of Work. Verso. https://www.versobooks.com/products/2682-automation-and-the-future-of-work on economic stagnation, see especially chapter 3, “In the Shadow of Stagnation”. on Marx's concept of the Value-Form: https://www.marxists.org/archive/marx/works/1867-c1/appendix.htm Moore, J.W. & Patel, R. (2020). A History of the World in Seven Cheap Things. A Guide to Capitalism, Nature, and the Future of the Planet. Verso. https://www.versobooks.com/products/817-a-history-of-the-world-in-seven-cheap-things on the abstract domination of capitalism: Postone, M. (1993). Time, Labor and Social Domination. A Reinterpretation of Marx's Critical Theory. Cambridge University Press. https://files.libcom.org/files/Moishe%20Postone%20-%20Time,%20Labor,%20and%20Social%20Domination.pdf Mau, S. (2023). Mute Compulsion. A Marxist Theory of the Economic Power of Capital. Verso. https://www.versobooks.com/products/2759-mute-compulsion Leipold, B. (2024). Citizen Marx. Republicanism and the Formation of Karl Marx's Social and Political Thought. Princeton University Press. https://press.princeton.edu/books/hardcover/9780691205236/citizen-marx on GDP (Gross Domestic Product): https://en.wikipedia.org/wiki/Gross_domestic_product on the Five-Year Plans in the Soviet Union: https://en.wikipedia.org/wiki/Five-year_plans_of_the_Soviet_Union Katsenelinboigen, A. (1977). Coloured Markets in the Soviet Union. Soviet Studies. Vol. 29, No.1. 62-85. https://www.jstor.org/stable/150728 Uvalić, M. (2018). The Rise and Fall of Market Socialism in Yugoslavia. https://www.researchgate.net/publication/331223694_The_Rise_and_Fall_of_Market_Socialism_in_Yugoslavia on Friedrich Hayek: https://en.wikipedia.org/wiki/Friedrich_Hayek Hayek, F. A. (1945). The Use of Knowledge in Society. The American Economic Review, 35(4), 519–530. https://www.jstor.org/stable/1809376 on the Pareto Optimum: https://en.wikipedia.org/wiki/Pareto_efficiency on Rational Choice Theory: https://en.wikipedia.org/wiki/Rational_choice_model on Behavioral Economics: https://en.wikipedia.org/wiki/Behavioral_economics on Otto Neurath: https://en.wikipedia.org/wiki/Otto_Neurath on Neurath's technocratic tendencies: https://jacobin.com/2023/02/technocratic-socialism-otto-neurath-utopianism-capitalism on Joseph Raz: https://en.wikipedia.org/wiki/Joseph_Raz on Utilitarianism: https://en.wikipedia.org/wiki/Utilitarianism on the Capability Approach by Amartya Sen and Martha Nussbaum: https://en.wikipedia.org/wiki/Capability_approach on the Human Development Index (HDI): https://hdr.undp.org/data-center/human-development-index#/indicies/HDI on the Sustainability Development Goals (SDGs): https://sdgs.un.org/goals on Multi-Objective Optimization: https://en.wikipedia.org/wiki/Multi-objective_optimization Saros, D. E. (2014). Information Technology and Socialist Construction. The End of Capital and the Transition to Socialism. Routledge. https://www.routledge.com/Information-Technology-and-Socialist-Construction-The-End-of-Capital-and-the-Transition-to-Socialism/Saros/p/book/9780415742924 on Neoclassical Economics: https://en.wikipedia.org/wiki/Neoclassical_economics on Citizen Assemblies and Sortition: https://www.sortitionfoundation.org/ on John Stuart Mill: https://en.wikipedia.org/wiki/John_Stuart_Mill Mill, J. S. (2011). On Liberty. Cambridge University Press. https://www.cambridge.org/core/books/on-liberty/62EC27F1E66E2BCBA29DDCD5294B3DE0 McCabe, H. (2021). John Stuart Mill, Socialist. McGill-Queen's University Press. https://www.mqup.ca/john-stuart-mill--socialist-products-9780228005742.php on Degrowth: https://degrowth.info/ on Nick Land and Right Accelerationism: https://youtu.be/lrOVKHg_PJQ?si=Q4oFbaM1p4fhcWP0 on Left Accelerationism: https://criticallegalthinking.com/2013/05/14/accelerate-manifesto-for-an-accelerationist-politics/ Devine, P. (2002). Participatory Planning through Negotiated Coordination. Science & Society, Vol. 66, No. 1, 72-85. https://guilfordjournals.com/doi/abs/10.1521/siso.66.1.72.21001?journalCode=siso on Oskar R. Lange: https://en.wikipedia.org/wiki/Oskar_R._Lange on Lange's neoclassical approach to Socialism: https://jacobin.com/2022/10/oskar-lange-neoclassical-marxism-limits-of-capitalism-economic-theory Kowalik, T. (1990). Lange-Lerner Mechanism. In: Eatwell, J., Milgate, M., Newman, P. (eds). Problems of the Planned Economy. Palgrave Macmillan. https://link.springer.com/chapter/10.1007/978-1-349-20863-0_21 on Joseph Schumpeters concept of Creative Destruction: https://en.wikipedia.org/wiki/Creative_destruction Shaikh, A. (2016). Capitalism. Competition, Conflict, Crises. Oxford Academic. https://academic.oup.com/book/1464 Kornai, J. (1980). “Hard” and “Soft” Budget Constraint. Acta Oeconomica, 25(3/4), 231–245. https://www.jstor.org/stable/40728773 on the Cobb-Douglas Production Function: https://en.wikipedia.org/wiki/Cobb%E2%80%93Douglas_production_function on Adam Smith: https://en.wikipedia.org/wiki/Adam_Smith Lutosch, H. (2025). Embracing the Small Stuff. Caring for Children in a Liberated Society. In: Groos, J., & Sorg, C. (Eds.). (2025). Creative Construction. Democratic Planning in the 21st Century and Beyond. Bristol University Press. https://bristoluniversitypress.co.uk/creative-construction Hahnel, R. (2021). Democratic Economic Planning. Routledge. https://www.routledge.com/Democratic-Economic-Planning/Hahnel/p/book/9781032003320 Cockshott, P. & Cottrell, A. (1993). Towards a New Socialism. Spokesman. https://users.wfu.edu/cottrell/socialism_book/new_socialism.pdf on Universal Basic Services (UBS): https://en.wikipedia.org/wiki/Universal_basic_services https://autonomy.work/ubs-hub/ Fraser, N. & Sorg, C. (2025). Socialism, Planning and the Relativity of Dirt. In: Groos, J., & Sorg, C. (Eds.). (2025). Creative Construction. Democratic Planning in the 21st Century and Beyond. Bristol University Press. https://bristoluniversitypress.co.uk/creative-construction on Milton Friedman: https://en.wikipedia.org/wiki/Milton_Friedman on John Maynard Keynes: https://en.wikipedia.org/wiki/John_Maynard_Keynes Aaron on what to learn from radical Keynesianism for a transitionary Program: Benanav, A. & Henwood, D. (2025). Behind the News. Beyond the Capitalist Economy w/ Aaron Benanav. https://open.spotify.com/episode/2diIiFkkM4x7MoZhi9e0tx on Socializing Finance: McCarthy, M. A. (2025). The Master's Tools. How Finance Wrecked Democracy (And a Radical Plan to Rebuild It). Verso. https://www.versobooks.com/products/755-the-master-s-tools Future Histories Episodes on Related Topics S3E47 | Jason W. Moore on Socialism in the Web of Life https://www.futurehistories.today/episoden-blog/s03/e47-jason-w-moore-on-socialism-in-the-web-of-life/ S03E29 | Nancy Fraser on Alternatives to Capitalism https://www.futurehistories.today/episoden-blog/s03/e29-nancy-fraser-on-alternatives-to-capitalism/ S03E04 | Tim Platenkamp on Republican Socialism, General Planning and Parametric Control https://www.futurehistories.today/episoden-blog/s03/e04-tim-platenkamp-on-republican-socialism-general-planning-and-parametric-control/ S02E33 | Pat Devine on Negotiated Coordination https://www.futurehistories.today/episoden-blog/s02/e33-pat-devine-on-negotiated-coordination/ S03E10 | Aaron Benanav on Associational Socialism and Democratic Planning https://www.futurehistories.today/episoden-blog/s02/e10-aaron-benanav-on-associational-socialism-and-democratic-planning/ S01E32 | Daniel E. Saros on Digital Socialism and the Abolition of Capital (Part 2) https://www.futurehistories.today/episoden-blog/s01/e32-daniel-e-saros-on-digital-socialism-and-the-abolition-of-capital-part-2/ S02E31 | Daniel E. Saros on Digital Socialism and the Abolition of Capital (Part 1) https://www.futurehistories.today/episoden-blog/s01/e31-daniel-e-saros-on-digital-socialism-and-the-abolition-of-capital-part-1/ --- If you are interested in democratic economic planning, these resources might be of help: Democratic planning – an information website https://www.democratic-planning.com/ Sorg, C. & Groos, J. (eds.)(2025). Rethinking Economic Planning. Competition & Change Special Issue Volume 29 Issue 1. https://journals.sagepub.com/toc/ccha/29/1 Groos, J. & Sorg, C. (2025). Creative Construction - Democratic Planning in the 21st Century and Beyond. Bristol University Press. [for a review copy, please contact: amber.lanfranchi[at]bristol.ac.uk] https://bristoluniversitypress.co.uk/creative-construction International Network for Democratic Economic Planning https://www.indep.network/ Democratic Planning Research Platform: https://www.planningresearch.net/ --- Future Histories Contact & Support If you like Future Histories, please consider supporting us on Patreon: https://www.patreon.com/join/FutureHistories Contact: office@futurehistories.today Twitter: https://twitter.com/FutureHpodcast Instagram: https://www.instagram.com/futurehpodcast/ Mastodon: https://mstdn.social/@FutureHistories English webpage: https://futurehistories-international.com   Episode Keywords #AaronBenanav, #JanGroos, #Interview, #FutureHistories, #FutureHistoriesInternational, #futurehistoriesinternational, #Transition, #DemocraticPlanning, #Keynes, #Efficiency, #Economics, #NeoclassicalEconomics, #NeoclassicalSocialism, #OttoNeurath, #DemocraticEconomicPlanning, #Capitalism, #Economics, #Socialism, #Socialisation, #Investment, #Degrowth, #UniversalBasicServices, #CareWork

The recent conclusion of China's Fourth Plenum has shed light on the strategic direction of the 15th Five-Year Plan, highlighting key priorities such as boosting domestic consumption, advancing technological self-reliance, and expanding into new export markets. Following the Plenum, Chinese President Xi also met with US President Trump in South Korea, reaching a mutual agreement to pause key trade escalations for a year. What do these developments mean for the future of US-China relations, and can Chinese markets continue its bull run in 2026? This episode is presented by Richard Tang, Head of Research Hong Kong at Julius Baer and Hong Hao, Managing Partner and CIO of Lotus Asset Management Ltd.

At the recent CPC Central Committee plenum, China set the blueprint for its 15th Five-Year Plan (2026-2030), reinforcing a focus on high-quality development and technological advancement. We explore the implications for global partners, with a special look at what it means for Africa.

On today's show Andrew and Bill begin with the looming Trump-Xi meeting in Seoul, South Korea, and the "consensuses" agreed upon in Kuala Lampur this past weekend. Topics include: Treasury Scott Bessent's comments indicate that the recent rare earth export controls could be delayed by a year, questions about what the U.S. might have conceded to secure that delay, talk of removing fentanyl tariffs, how Beijing sees the US in 2025, and a Trump visit to Beijing that may portend relative stability in the short term. At the end: Parsing the five-year plan and two stories about the Chinese economy, the scale of Europe's Nexperia problem becomes clearer, and thoughts on the challenge facing Europe and the United States as they attempt to build secure supply chains in the years to come.

From October 20-23, the Central Committee of the Chinese Communist Party held its Fourth Plenum in Beijing, marking an important moment as the Party sets the direction for China's development for the next five years. The session adopted recommendations for the 15th Five-Year Plan, endorsing Xi Jinping's goals of high-quality development, scientific and technological self-reliance, and strengthening national security in response to rising global instabilities. The Central Committee also announced the replacement of 11 members, the highest personnel turnover since 2017 amid an ongoing anti-corruption purge in the military. To discuss the plenum's outcomes, we are joined by Jonathan Czin. Jonathan is a leading expert on Chinese politics and foreign policy. He holds the Michael H. Armacost Chair in Foreign Policy Studies and is a fellow in the John L. Thornton China Center at the Brookings Institution. He previously led the intelligence community's analysis of Chinese politics and policy making at the CIA and also spent two years as director for China at the National Security Council during the Biden administration.  Timestamps:  [00:00] Start  [01:36] Why the Fourth Plenum Matters  [03:37] Key Takeaways: Policy Continuity and Political Purges  [05:07] Zhang Shengmin and Xi Jinping's Military Ambitions  [09:23] Signals and Adjustments in Economic Planning  [11:56] Previewing the 15th Five-Year Plan  [13:33] Xi Jinping's Growing Confidence  [17:42] Political Messaging and Choreography  [20:21] Language in the Communique: “Strategic Resolve”  [22:28] What to Expect from the Xi-Trump Summit  [26:38] Is Beijing Worried the Summit Could Backfire? 

China has released details of the recommendations for formulating the 15th Five-Year Plan for social and economic development, adopted at last week's leadership meeting of the Communist Party of China.

In this special roundtable, we are joined by a group of young foreign students who bring a fresh perspective on China and the world. Many of them have studied, worked, and traveled across China, experiencing firsthand the changes shaping daily life and the nation's growth. What is their take on China's next chapter? With the guiding recommendations of the 15th Five-Year Plan already on the table, how do they see China's priorities for the next five years?

As the Fourth Plenary Session of the 20th CPC Central Committee concluded on Thursday, the curtain over China's 15th Five-Year Plan is gradually being lifted. Serving as a critical link between the past and the future, this five-year period aims to reinforce foundational strengths and advance China toward basically achieving socialist modernization by 2035. What signals did the plenary session send? What might the next five years hold for China and the world?

Aaron Benanav discusses the first part of his ‘Beyond Capitalism' essay series in the New Left Review. In this part he lays the groundwork for his proposal of a multi-criterial economy. SASE - Society for the Advancement of Socio-Economics: https://sase.org/ SASE Network I: Alternatives to Capitalism (including CfP): https://sase.org/networks/i-alternatives-to-capitalism/     Shownotes Aaron at Cornell University: https://cals.cornell.edu/people/aaron-benanav Aaron's personal website: https://www.aaronbenanav.com/ Access to Aaron's paywalled publications: https://www.aaronbenanav.com/papers Mailing List to join the Movement for Multi-Dimensional Economics: https://docs.google.com/forms/d/e/1FAIpQLSeUF7MZ2jQJXY_wHKn5xSIo-_L0tkMO-SG079sa5lGhRJTgqg/viewform Benanav, A. (2025). Beyond Capitalism—1. New Left Review, Issue 153, 65–128. https://newleftreview.org/issues/ii153/articles/aaron-benanav-beyond-capitalism-1 Benanav, A. (2025). Beyond Capitalism—2. New Left Review, Issue 154, 97–143. https://newleftreview.org/issues/ii154/articles/aaron-benanav-beyond-capitalism-2 Benanv, A. (2020). Automation and the Future of Work. Verso. https://www.versobooks.com/products/2682-automation-and-the-future-of-work on economic stagnation, see especially chapter 3, “In the Shadow of Stagnation”. on Marx's concept of the Value-Form: https://www.marxists.org/archive/marx/works/1867-c1/appendix.htm Moore, J.W. & Patel, R. (2020). A History of the World in Seven Cheap Things. A Guide to Capitalism, Nature, and the Future of the Planet. Verso. https://www.versobooks.com/products/817-a-history-of-the-world-in-seven-cheap-things on the abstract domination of capitalism: Postone, M. (1993). Time, Labor and Social Domination. A Reinterpretation of Marx's Critical Theory. Cambridge University Press. https://files.libcom.org/files/Moishe%20Postone%20-%20Time,%20Labor,%20and%20Social%20Domination.pdf Mau, S. (2023). Mute Compulsion. A Marxist Theory of the Economic Power of Capital. Verso. https://www.versobooks.com/products/2759-mute-compulsion Leipold, B. (2024). Citizen Marx. Republicanism and the Formation of Karl Marx's Social and Political Thought. Princeton University Press. https://press.princeton.edu/books/hardcover/9780691205236/citizen-marx on GDP (Gross Domestic Product): https://en.wikipedia.org/wiki/Gross_domestic_product on the Five-Year Plans in the Soviet Union: https://en.wikipedia.org/wiki/Five-year_plans_of_the_Soviet_Union Katsenelinboigen, A. (1977). Coloured Markets in the Soviet Union. Soviet Studies. Vol. 29, No.1. 62-85. https://www.jstor.org/stable/150728 Uvalić, M. (2018). The Rise and Fall of Market Socialism in Yugoslavia. https://www.researchgate.net/publication/331223694_The_Rise_and_Fall_of_Market_Socialism_in_Yugoslavia on Friedrich Hayek: https://en.wikipedia.org/wiki/Friedrich_Hayek Hayek, F. A. (1945). The Use of Knowledge in Society. The American Economic Review, 35(4), 519–530. https://www.jstor.org/stable/1809376 on the Pareto Optimum: https://en.wikipedia.org/wiki/Pareto_efficiency on Rational Choice Theory: https://en.wikipedia.org/wiki/Rational_choice_model on Behavioral Economics: https://en.wikipedia.org/wiki/Behavioral_economics on Otto Neurath: https://en.wikipedia.org/wiki/Otto_Neurath on Neurath's technocratic tendencies: https://jacobin.com/2023/02/technocratic-socialism-otto-neurath-utopianism-capitalism on Joseph Raz: https://en.wikipedia.org/wiki/Joseph_Raz on Utilitarianism: https://en.wikipedia.org/wiki/Utilitarianism on the Capability Approach by Amartya Sen and Martha Nussbaum: https://en.wikipedia.org/wiki/Capability_approach on the Human Development Index (HDI): https://hdr.undp.org/data-center/human-development-index#/indicies/HDI on the Sustainability Development Goals (SDGs): https://sdgs.un.org/goals on Multi-Objective Optimization: https://en.wikipedia.org/wiki/Multi-objective_optimization Saros, D. E. (2014). Information Technology and Socialist Construction. The End of Capital and the Transition to Socialism. Routledge. https://www.routledge.com/Information-Technology-and-Socialist-Construction-The-End-of-Capital-and-the-Transition-to-Socialism/Saros/p/book/9780415742924 on Neoclassical Economics: https://en.wikipedia.org/wiki/Neoclassical_economics on Citizen Assemblies and Sortition: https://www.sortitionfoundation.org/ on John Stuart Mill: https://en.wikipedia.org/wiki/John_Stuart_Mill Mill, J. S. (2011). On Liberty. Cambridge University Press. https://www.cambridge.org/core/books/on-liberty/62EC27F1E66E2BCBA29DDCD5294B3DE0 McCabe, H. (2021). John Stuart Mill, Socialist. McGill-Queen's University Press. https://www.mqup.ca/john-stuart-mill--socialist-products-9780228005742.php on Degrowth: https://degrowth.info/ on Nick Land and Right Accelerationism: https://youtu.be/lrOVKHg_PJQ?si=Q4oFbaM1p4fhcWP0 on Left Accelerationism: https://criticallegalthinking.com/2013/05/14/accelerate-manifesto-for-an-accelerationist-politics/ Devine, P. (2002). Participatory Planning through Negotiated Coordination. Science & Society, Vol. 66, No. 1, 72-85. https://guilfordjournals.com/doi/abs/10.1521/siso.66.1.72.21001?journalCode=siso on Oskar R. Lange: https://en.wikipedia.org/wiki/Oskar_R._Lange on Lange's neoclassical approach to Socialism: https://jacobin.com/2022/10/oskar-lange-neoclassical-marxism-limits-of-capitalism-economic-theory Kowalik, T. (1990). Lange-Lerner Mechanism. In: Eatwell, J., Milgate, M., Newman, P. (eds). Problems of the Planned Economy. Palgrave Macmillan. https://link.springer.com/chapter/10.1007/978-1-349-20863-0_21 on Joseph Schumpeters concept of Creative Destruction: https://en.wikipedia.org/wiki/Creative_destruction Shaikh, A. (2016). Capitalism. Competition, Conflict, Crises. Oxford Academic. https://academic.oup.com/book/1464 Kornai, J. (1980). “Hard” and “Soft” Budget Constraint. Acta Oeconomica, 25(3/4), 231–245. https://www.jstor.org/stable/40728773 on the Cobb-Douglas Production Function: https://en.wikipedia.org/wiki/Cobb%E2%80%93Douglas_production_function on Adam Smith: https://en.wikipedia.org/wiki/Adam_Smith Lutosch, H. (2025). Embracing the Small Stuff. Caring for Children in a Liberated Society. In: Groos, J., & Sorg, C. (Eds.). (2025). Creative Construction. Democratic Planning in the 21st Century and Beyond. Bristol University Press. https://bristoluniversitypress.co.uk/creative-construction Hahnel, R. (2021). Democratic Economic Planning. Routledge. https://www.routledge.com/Democratic-Economic-Planning/Hahnel/p/book/9781032003320 Cockshott, P. & Cottrell, A. (1993). Towards a New Socialism. Spokesman. https://users.wfu.edu/cottrell/socialism_book/new_socialism.pdf on Universal Basic Services (UBS): https://en.wikipedia.org/wiki/Universal_basic_services https://autonomy.work/ubs-hub/ Fraser, N. & Sorg, C. (2025). Socialism, Planning and the Relativity of Dirt. In: Groos, J., & Sorg, C. (Eds.). (2025). Creative Construction. Democratic Planning in the 21st Century and Beyond. Bristol University Press. https://bristoluniversitypress.co.uk/creative-construction on Milton Friedman: https://en.wikipedia.org/wiki/Milton_Friedman on John Maynard Keynes: https://en.wikipedia.org/wiki/John_Maynard_Keynes Aaron on what to learn from radical Keynesianism for a transitionary Program: Benanav, A. & Henwood, D. (2025). Behind the News. Beyond the Capitalist Economy w/ Aaron Benanav. https://open.spotify.com/episode/2diIiFkkM4x7MoZhi9e0tx on Socializing Finance: McCarthy, M. A. (2025). The Master's Tools. How Finance Wrecked Democracy (And a Radical Plan to Rebuild It). Verso. https://www.versobooks.com/products/755-the-master-s-tools Future Histories Episodes on Related Topics S3E47 | Jason W. Moore on Socialism in the Web of Life https://www.futurehistories.today/episoden-blog/s03/e47-jason-w-moore-on-socialism-in-the-web-of-life/ S03E29 | Nancy Fraser on Alternatives to Capitalism https://www.futurehistories.today/episoden-blog/s03/e29-nancy-fraser-on-alternatives-to-capitalism/ S03E04 | Tim Platenkamp on Republican Socialism, General Planning and Parametric Control https://www.futurehistories.today/episoden-blog/s03/e04-tim-platenkamp-on-republican-socialism-general-planning-and-parametric-control/ S02E33 | Pat Devine on Negotiated Coordination https://www.futurehistories.today/episoden-blog/s02/e33-pat-devine-on-negotiated-coordination/ S03E10 | Aaron Benanav on Associational Socialism and Democratic Planning https://www.futurehistories.today/episoden-blog/s02/e10-aaron-benanav-on-associational-socialism-and-democratic-planning/ S01E32 | Daniel E. Saros on Digital Socialism and the Abolition of Capital (Part 2) https://www.futurehistories.today/episoden-blog/s01/e32-daniel-e-saros-on-digital-socialism-and-the-abolition-of-capital-part-2/ S02E31 | Daniel E. Saros on Digital Socialism and the Abolition of Capital (Part 1) https://www.futurehistories.today/episoden-blog/s01/e31-daniel-e-saros-on-digital-socialism-and-the-abolition-of-capital-part-1/ --- If you are interested in democratic economic planning, these resources might be of help: Democratic planning – an information website https://www.democratic-planning.com/ Sorg, C. & Groos, J. (eds.)(2025). Rethinking Economic Planning. Competition & Change Special Issue Volume 29 Issue 1. https://journals.sagepub.com/toc/ccha/29/1 Groos, J. & Sorg, C. (2025). Creative Construction - Democratic Planning in the 21st Century and Beyond. Bristol University Press. [for a review copy, please contact: amber.lanfranchi[at]bristol.ac.uk] https://bristoluniversitypress.co.uk/creative-construction International Network for Democratic Economic Planning https://www.indep.network/ Democratic Planning Research Platform: https://www.planningresearch.net/ --- Future Histories Contact & Support If you like Future Histories, please consider supporting us on Patreon: https://www.patreon.com/join/FutureHistories Contact: office@futurehistories.today Twitter: https://twitter.com/FutureHpodcast Instagram: https://www.instagram.com/futurehpodcast/ Mastodon: https://mstdn.social/@FutureHistories English webpage: https://futurehistories-international.com   Episode Keywords #AaronBenanav, #JanGroos, #Interview, #FutureHistories, #FutureHistoriesInternational, #futurehistoriesinternational, #Transition, #DemocraticPlanning, #Keynes, #Efficiency, #Economics, #NeoclassicalEconomics, #NeoclassicalSocialism, #OttoNeurath, #DemocraticEconomicPlanning, #Capitalism, #Economics, #Socialism, #Socialisation, #Investment, #Degrowth, #UniversalBasicServices, #CareWork

China's leadership has announced its latest five-year plan for the future. A lot of details are still unknown, but one of government's big ambitions is to strengthen its domestic tech sector. Also, the case of the Guildford Four is considered one of the worst miscarriages of justice in British legal history; decades later, their families say the fight for accountability is still not over. And, 1 in 3 French university students skips a daily meal regularly, as they struggle with rising housing costs and inflation; now, volunteers are coming to help, with groceries and more. Plus, Cape Verde celebrates qualifying for the World Cup for the first time in history.Listen to today's Music Heard on Air. Learn about your ad choices: dovetail.prx.org/ad-choices

Senior Chinese officials say the 15th Five-Year Plan period is crucial for building foundations to achieve the country's broader goal of basic socialist modernization by 2035.

China's Property Crisis, Deflation, and Structural Obstacles to Consumption Anne Stevenson-Yang with John Batchelor Anne Stevenson-Yang discussed how the persistent property crater has severely dragged down fixed asset investment. Beijing aims to boost the economy via consumption, but the Chinese system is structurally built to communicate only with producers, not average consumers. Furthermore, the deflationary environment encourages people to delay purchases, waiting for lower prices. She views the Five-Year Plans mainly as an "amazing relic" used internally to motivate the sprawling government bureaucracies. 1850

SHOW 10-22-25 CBS EYE ON THE WORLD WITH JOHN BATCHELOR HK 1925 THE SHOW BEGINS IN THE DOUBTS ABOUT XI. FIRST HOUR 9-915 Colonel McCausland Discusses Postponed Budapest Summit, Gaza Ceasefire Instability, and Pentagon Information Control Jeff McCausland with John Batchelor Colonel McCausland explained the Budapest summit postponement, noting Putin demands Ukrainian surrender before a ceasefire. He considered Tomahawks an escalation of firepower, but not a game-changer, with delivery now on hold. McCausland described the Gaza ceasefire as precarious, lacking discussion or plan for Hamas disarmament, which he views as the necessary "red line" for stability. He criticized the Pentagon's new policy blocking journalists from soliciting unauthorized information as an attempt by Secretary Hegseth to control information flow and increase opacity. 915-930 Colonel McCausland Discusses Postponed Budapest Summit, Gaza Ceasefire Instability, and Pentagon Information Control Jeff McCausland with John Batchelor Colonel McCausland explained the Budapest summit postponement, noting Putin demands Ukrainian surrender before a ceasefire. He considered Tomahawks an escalation of firepower, but not a game-changer, with delivery now on hold. McCausland described the Gaza ceasefire as precarious, lacking discussion or plan for Hamas disarmament, which he views as the necessary "red line" for stability. He criticized the Pentagon's new policy blocking journalists from soliciting unauthorized information as an attempt by Secretary Hegseth to control information flow and increase opacity. 930-945 Steve Yates Discusses Australia-US Alliance Strength and Political Turmoil Affecting APEC Summit Steve Yates with John Batchelor Steve Yates confirmed the Trump-Albanese meeting was a net positive, accelerating AUKUS and securing a rare earth deal that addresses supply access. He noted the political turmoil in Beijing, highlighted by uncertainty over Xi Jinping's APEC attendance. This instability is abnormal and reinforces China's unstable political foundation. Yates suggested this instability should push allies to rely more on the first island chain as a reliable balance. 945-1000 Rick Fisher Reports on China's Reusable Rocket Deluge and US Moon Race Political Pressures Rick Fisher with John Batchelor Rick Fisher reported that China has 27 reusable space launch vehicle projects underway, predicting a "deluge" of cheap space services to compete with SpaceX. He noted that President Trump is alarmed that China may win the second race to the moon. Trump pressured NASA Administrator Duffy to open the Human Landing System competition to Blue Origin, signaling that politics and winning the race are paramount, regardless of competitor viability. China's first reusable booster test could occur before year-end. SECOND HOUR 10-1015 Colonel Newsham Discusses Promising US-Australia Rare Earth Deal and Canberra's Dual Strategy Toward China Grant Newsham with John Batchelor Colonel Grant Newsham discussed the promising US-Australia rare earth deal, noting Australia has vast mining capabilities to provide an alternative to China's dominance. China's threat to use export controls might spur free nations to develop alternative supply chains. Newsham noted Canberra is playing a "neat trick," maintaining a firm defense alliance with the US (AUKUS) while maintaining profitable economic ties with Beijing, reflecting an underlying "softness" toward China. 1015-1030 Colonel Newsham Discusses Promising US-Australia Rare Earth Deal and Canberra's Dual Strategy Toward China Grant Newsham with John Batchelor Colonel Grant Newsham discussed the promising US-Australia rare earth deal, noting Australia has vast mining capabilities to provide an alternative to China's dominance. China's threat to use export controls might spur free nations to develop alternative supply chains. Newsham noted Canberra is playing a "neat trick," maintaining a firm defense alliance with the US (AUKUS) while maintaining profitable economic ties with Beijing, reflecting an underlying "softness" toward China. 1030-1045 China's Property Crisis, Deflation, and Structural Obstacles to Consumption Anne Stevenson-Yang with John Batchelor Anne Stevenson-Yang discussed how the persistent property crater has severely dragged down fixed asset investment. Beijing aims to boost the economy via consumption, but the Chinese system is structurally built to communicate only with producers, not average consumers. Furthermore, the deflationary environment encourages people to delay purchases, waiting for lower prices. She views the Five-Year Plans mainly as an "amazing relic" used internally to motivate the sprawling government bureaucracies. 1045-1100 General Zhang Youxia Allegedly Leads PLA Purges Amid Internal CCP Power Struggle General Blaine Holt with John Batchelor General Blaine Holt reported that the purge of nine flag officers was allegedly executed by General Zhang Youxia, not Xi Jinping. Zhang, a top general, began the purges out of fear of becoming a target himself, indicating an internal "civil war" within the CCP factions opposing Xi. Zhang has secured elite military units loyal to him and the People's Liberation Army (PLA), rather than solely the Party, stabilizing the military amidst the turmoil. Zhang's life is at risk if Xi prevails.THIRD HOUR 1100-1115 Peter Berkowitz Analyzes Precarious Gaza Ceasefire and Deep Internal Political Tensions in Israel Peter Berkowitz with John Batchelor Peter Berkowitz stated the Gaza ceasefire is precarious and phase one is incomplete until all deceased hostages' remains are returned, aligning with Israeli public and governmental sentiment. Hamas may be stalling negotiations to rearm. Berkowitz noted sharp internal tensions in Israel, driven by opposition to Netanyahu, resentment over judicial reform, and economic exhaustion from military service. He finds it unlikely that the peace plan, which requires Hamas disarmament, will be fully realized. 1115-1130 Peter Berkowitz Analyzes Precarious Gaza Ceasefire and Deep Internal Political Tensions in Israel Peter Berkowitz with John Batchelor Peter Berkowitz stated the Gaza ceasefire is precarious and phase one is incomplete until all deceased hostages' remains are returned, aligning with Israeli public and governmental sentiment. Hamas may be stalling negotiations to rearm. Berkowitz noted sharp internal tensions in Israel, driven by opposition to Netanyahu, resentment over judicial reform, and economic exhaustion from military service. He finds it unlikely that the peace plan, which requires Hamas disarmament, will be fully realized. 1130-1145 GOP Voters Found More Moderate on Fiscal Issues and Driven by Cultural Anti-Progressivism, According to New Analysis Ryan Streeter with John Batchelor Ryan Streeter discussed findings showing Republican voters are more moderate than portrayed, especially on entitlement cuts. They prioritize a healthy economy and law and order. Isolationism is not prominent, though they oppose excessive foreign spending. MAGA Republicanism is defined primarily by cultural issues, like anti-progressivism and concern over immigration, often outweighing economic policies like tariffs. Streeter concludes that rank and file voters are not as radical as national politics suggest. 1145-1200 GOP Voters Found More Moderate on Fiscal Issues and Driven by Cultural Anti-Progressivism, According to New Analysis Ryan Streeter with John Batchelor Ryan Streeter discussed findings showing Republican voters are more moderate than portrayed, especially on entitlement cuts. They prioritize a healthy economy and law and order. Isolationism is not prominent, though they oppose excessive foreign spending. MAGA Republicanism is defined primarily by cultural issues, like anti-progressivism and concern over immigration, often outweighing economic policies like tariffs. Streeter concludes that rank and file voters are not as radical as national politics suggest. FOURTH HOUR 12-1215 Simon Constable Reports on Rising Commodity Prices Driven by Data Center Demand and European Political Turmoil Simon Constable with John Batchelor Simon Constable reported significant commodity price increases (copper up 14%, gold up 48%), driven by demand for data centers and AI. He criticized European reluctance to build needed data centers, stressing their necessity for the digital future. Constable noted President Macron fears Marine Le Pen's National Rally due to growing support stemming from concerns over unfettered immigration. He also criticized the UK Labour party's plan to tax professionals like dentists and doctors, predicting they will leave the country. 1215-1230 Simon Constable Reports on Rising Commodity Prices Driven by Data Center Demand and European Political Turmoil Simon Constable with John Batchelor Simon Constable reported significant commodity price increases (copper up 14%, gold up 48%), driven by demand for data centers and AI. He criticized European reluctance to build needed data centers, stressing their necessity for the digital future. Constable noted President Macron fears Marine Le Pen's National Rally due to growing support stemming from concerns over unfettered immigration. He also criticized the UK Labour party's plan to tax professionals like dentists and doctors, predicting they will leave the country. 1230-1245 Bob Zimmerman Criticizes NASA's Artemis Lunar Program as a "Management Disaster" Focused on Beating China Bob Zimmerman with John Batchelor Bob Zimmerman criticized NASA interim administrator Sean Duffy for focusing on SpaceX being "behind schedule," distracting from NASA's own delay of the Artemis mission to 2028 at the earliest. He called the Artemis plan an "unwieldy management disaster" designed haphazardly to give the SLS rocket a mission. The political push to beat China by 2028 creates a dangerous "one-time stunt." Zimmerman argues the private sector (SpaceX) is the real future of US space endeavors. 1245-100 AM Bob Zimmerman Criticizes NASA's Artemis Lunar Program as a "Management Disaster" Focused on Beating China Bob Zimmerman with John Batchelor Bob Zimmerman criticized NASA interim administrator Sean Duffy for focusing on SpaceX being "behind schedule," distracting from NASA's own delay of the Artemis mission to 2028 at the earliest. He called the Artemis plan an "unwieldy management disaster" designed haphazardly to give the SLS rocket a mission. The political push to beat China by 2028 creates a dangerous "one-time stunt." Zimmerman argues the private sector (SpaceX) is the real future of US space endeavors.

China has pledged to achieve significant progress in high-quality development and substantial improvements in scientific and technological self-reliance over the next five years.

China & the Hill is now on Substack!  China & the Hill is a weekly newsletter covering Washington DC's China-focused debates, actions, and reactions. Readers will receive a curated digest of each week's most pressing U.S.-China news and its impact on businesses and policy, and can listen to the top stories in podcast form on the U.S.-China Podcast.

On today's show Andrew and Bill begin with questions surrounding the Fourth Plenum as it continues in Beijing this week. Topics include: The Party's messaging on past successes, a timeline for policy announcements in the days and weeks to come, steps the Party may take to address consumption with its next Five-Year Plan, and the full spectrum of possibilities surrounding Xi and his succession plans. From there: Reactions to the news of PLA purges that became official last week, including why some explanatory theories make more sense than others and why the upheaval is not necessarily a positive signal for Taiwan. At the end: More notes on the trade war with the U.S., the plot thickens with Nexperia and the Netherlands, a new website for Andrew's writing, and an update on Yang Hansen in Portland.

It's Tuesday, October 21st, A.D. 2025. This is The Worldview in 5 Minutes heard on 140 radio stations and at www.TheWorldview.com.  I'm Adam McManus. (Adam@TheWorldview.com) By Kevin Swanson                    Xi Jinping fired 9 Chinese military commanders China's communist system is in turmoil, as the defense ministry announces the removal of nine very senior military commanders from duty, including a number two general, He Weidong. Since 2023, the communist leader, Xi Jinping, has administered the removal of dozens of senior officers. These moves signal a factionalism from within the party and the Chinese military. Experts question whether Jinping will survive in his position. This week, the Central Committee of the Communist Party of China is holding its Fourth Plenary Session where leaders will work out a Five-Year Plan. The outcome of this meeting will reveal Jinping's standing in party politics. Keep in mind: God is in control. Haggai 2:22 says, “The word of the Lord came unto Haggai … I will overthrow the throne of kingdoms. … I will overthrow the chariots, and those that ride in them; and the horses and their riders shall come down, everyone by the sword of his brother.” Pakistani pastor survives murder plot A Pakistani pastor survived a murder attempt in Islamabad, the capital of Pakistan, on the morning of Sunday, September 21, reports Barnabas Aid. Pastor Kamran Naz had been traveling by bus, accompanied by his mother, from his home in Gujranwala to lead a church service in Islamabad when he was attacked by two unidentified gunmen. One bullet wounded the pastor in the right leg. A second bullet narrowly missed his head. The attackers then fled on a motorcycle as some church members who were present swiftly came to the pastor's aid and contacted emergency services. Pastor Kamran had previously notified the police of numerous death threats. He was warned to stop ministering at the church or face the consequences.  Pastor Imran Amanat, leader of the Christian advocacy group LEAD Ministries Pakistan, said, “We will not be intimidated or silenced. We demand that the authorities immediately ensure the protection of Christian leaders and hold the criminals accountable. If the government continues to ignore these threats, it becomes complicit in the persecution.” According to Open Doors, Pakistan is the eighth most dangerous country worldwide for Christians. Swedish parents lost custody over kids' required church attendance Certain European nations have now been recognized for their systemic violation of parental rights, especially if the parents happen to be Christian.  Alliance Defending Freedom International is working on a case in Sweden, where parents have lost custody of their children under charges of “religious extremism.” The parents had simply restricted the phone use of their teen children and required attendance at church meetings. After three years of attempts to regain custody, Daniel and Bianca Samson are appealing their case to the European Court of Human Rights. Recently, the High Court has already condemned countries like Spain, Portugal, Italy, Croatia, and Romania for systemic violations in family separation and child welfare cases. Iran threatens Israel Iran's Ayatollah Ali Khamenei took to social media (X) yesterday, effectively taunting the American government, threatening Israel, and asserting independence for the nation's nuclear program. He asked, “What authority do you, Americans, have to dictate what a country should or shouldn't do if it possesses nuclear industry? What position do you hold in the world? How is it any of America's business whether Iran has nuclear capabilities and nuclear industry or not? .. . The U.S. President boasts that they've bombed and destroyed Iran's nuclear industry. Very well, in your dreams!” Trump urges Putin and Zelenskyy to end the war President Donald Trump is urging Ukraine's leader, Volodymyr Zelenskyy to end the war on Russia's terms.  He warned Zelenskyy of Russian President Vladimir Putin's threat to “destroy” Ukraine it there is no agreement.  The Financial Times described the meeting as a “shouting match”, with Trump throwing maps in the room, and “cursing all the time.” Japan greenlights Morning After Pill Japan has just approved the abortifacient drug known as the over-the-counter “morning after” pill. Japan also approved the RU-486 abortion kill pill back in April 2023. Japan recorded 686,000 births in 2024. That's down from 762,000 in 2023, and down from 2,000,000 in 1975. Jeremiah 32:35 speaks of this child sacrifice.  “They built the high places of Baal in the Valley of the Son of Hinnom, to offer up their sons and daughters to Molech, though I did not command them, nor did it enter into my mind, that they should do this abomination.” Day 21 of U.S. government shutdown The U.S. government shutdown is rounding its 21st day. With 900,000 employees furloughed, the shutdown represents the most severe in American history.  Indeed, 7,850 flights were delayed due to air traffic control staffing shortages on Sunday.  According to TheHill.com, 13,000 air traffic controllers and 50,000 TSA agents are presently working without pay. Housing bubble has burst The housing bubble has burst in multiple cities across the United States. The median house values in Oakland, California and Austin, Texas have dropped by 24% since the peak in 2022. Significant declines have also been reported in New Orleans, San Francisco, Fort Myers, Florida, and Denver, Colorado, reports WolfStreet.com. Gold and silver hit new record highs Metals continued their journey upwards and onwards in Monday's market activity. Gold hit $4,350 per ounce and silver hit $52 and change per ounce, reports Reuters. Trump's Education Dept. funds conservative ideology at colleges The Trump Education Department is offering preferential funding for those universities willing to bend more conservative. Only Vanderbilt, the University of Arizona, and the University of Texas at Austin have embraced to the idea out of the nine universities approached with the proposal, reports Breitbart.  MIT, Brown University, the University of Pennsylvania, and the University of Southern California have all rejected the Trump administration's encouragement to abolish their departments opposed to conservative ideas.  Major jewel heist at Louvre in Paris, France And finally, a team of four thieves broke into the Louvre Museum in Paris over the weekend. They stole priceless jewels dating back to the 19th Century, reports Reuters. Among the stolen items were a tiara and brooch belonging to Empress Eugénie, wife of Napoleon III, an emerald necklace and a pair of emerald earrings from Empress Marie Louise, Napolean's second wife, and a tiara, a necklace, and single earring from the sapphire set that belonged to Queen Marie-Amelie and Queen Hortense. (Also a brooch known as the "reliquary brooch” was taken). Close And that's The Worldview on this Tuesday, October 21st, in the year of our Lord 2025. Follow us on X or subscribe for free by Spotify, Amazon Music, or by iTunes or email to our unique Christian newscast at www.TheWorldview.com.  I'm Adam McManus (Adam@TheWorldview.com). Seize the day for Jesus Christ.

US President Donald Trump urged his Ukrainian counterpart to accept Russia's war terms during Friday's volatile White House meeting, and five-year plans still have a place in Chinese politics despite massive changes to its economic system. Plus, global hedge funds are listing in Hong Kong again after an extended slowdown, and the battle for control of rare earth metals is turbocharging stock prices in this sector. Mentioned in this podcast:Trump urged Zelenskyy to accept Putin's terms or be ‘destroyed' by RussiaChina pushes high-tech in 5-year plan as US tensions riseWhy China still loves its five-year plansHedge funds return to Hong Kong listingsRare earths shares soar as US and China battle over export controlsSave 40% on a standard annual digital subscription: ft.com/briefingsale Today's FT News Briefing was produced by Ethan Plotkin, Jess Smith, Sonja Hutson, and Marc Filippino. Our show was mixed by Kelly Garry. Additional help from Peter Barber. The FT's acting co-head of audio is Topher Forhecz. The show's theme music is by Metaphor Music.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

Golden Week has just wrapped, offering a timely snapshot of China's consumer sentiment. Travel volumes surged, but spending data remained subdued, highlighting the limits of short-term stimulus and reinforcing calls for deeper structural reform.Amidst this backdrop, China's stock market continues to rally, prompting fresh questions: Can momentum broaden beyond tech? Will long-awaited social reforms finally shift the consumption narrative? And what does a weakening US dollar mean for global asset allocation?Richard Tang, Head of Research Hong Kong at Julius Baer, and Hong Hao, Managing Partner and CIO of Lotus Asset Management Ltd., return to unpack the macro forces behind the rally, the outlook for the 15th Five-Year Plan, and why gold and silver are stealing the spotlight in 2025.This episode was recorded on 8 October 2025.

China recently released its official NDC, or Nationally Determined Contribution document, laying out a commitment to reduce carbon emissions ‘from peak' by 7-10% by 2035. The document was widely seen as disappointing. Now that the NDC and the initial reactions are out, it's time to take a step back and evaluate the bigger picture. What does this target really mean? What does the NDC signal about China's 15th Five-Year Plan, or for its major emitting sectors such as coal power or coal-to-chemicals? What impact did climate diplomacy or weakened/withdrawn climate commitments from other economies have on China's NDC? Is there a chance that China will use other policies to ‘enhance its ambition'? Our guest today is Kate Logan  Director, China Climate Hub and Climate Diplomacy at the Asia Society Policy Institute. Logan is also a Fellow with ASPI's Center for China Analysis. Her work focuses on enhancing climate progress across Asia and in China especially, including by supporting the international community's engagement with China's climate agenda. She previously worked with ClimateWorks, and also in Beijing with the Natural Resources Defense Council, and the Institute of Public & Environmental Affairs. Kate was one of the founders of the Environment China podcast, almost a decade ago, so she has a long connection to the Beijing Energy Network! Further reading: Kate Logan and Li Shuo, 'Beijing disappoints on ambition and misses a chance at leadership', Asia Society Policy Institute, September 2025, at https://asiasociety.org/policy-institute/unpacking-chinas-new-headline-climate-targets.

Our Chief China Equity Strategist Laura Wang discusses how China's new approach to economic development is transforming domestic industries and reshaping the global investment landscape.Read more insights from Morgan Stanley.----- Transcript ----- Welcome to Thoughts on the Market. I'm Laura Wang, Morgan Stanley's Chief China Equity Strategist.Today – a consequential shift in China's economic policy is set to reshape domestic markets and send ripples across the global economy.It's Thursday, October 2nd at 2pm in Hong Kong.If you're an investor, it's important to understand China's new approach to economic development. The government's policies to drive a recovery from an economic slump are changing the rules of competition, profitability and growth. This affects Chinese companies, and in turn global supply chains and investment flows.Let's start with the term involution – what is it? In China, involution describes a cycle of excessive competition—think companies fighting for market share by slashing prices, ramping up production, and eroding profits, often to the point where nobody wins. The government's anti-involution campaign is a direct response to this problem.What factors prompted the launch of this anti-involution initiative? Since 2021, China has faced mounting deflationary pressures—falling prices, a housing market slump, and a surge in manufacturing investment that led to overcapacity. The September 2024 policy pivot began to address these issues, and in mid-2025 the government launched a more targeted anti-involution campaign. This phase focuses on reducing excessive competition and restoring pricing power through market-based consolidation.As we assess the potential effectiveness of China's anti-involution policy, our base case projects China's return on equity (ROE) to reach 13.3 percent by 2030, up from a cycle low of 10 percent in May 2024 and 11.6 percent by July 2025. In a bullish scenario, decisive reforms and demand-side stimulus could push ROE as high as 16.3 percent.We also expect earnings growth to accelerate, with our base case showing an annual growth rate (CAGR) of 7.6 percent in 2025, rising to 11.1 percent by 2027. We forecast valuations to normalize towards 12–13x forward price-to-earnings, in line with emerging market peers, but this could re-rate higher if reforms succeed.In terms of investment opportunities, we believe the EV Batteries industry will benefit the most from the Chinese government's anti-involution efforts. It's got strong policy support, cutting-edge technology, and a market that's consolidating fast—meaning the days of low-quality and excess capacity are fading. We're seeing a shift toward long-term, sustainable growth. Steel and Cement are industries where the state has a strong hand and capacity controls are well established. These factors help stabilize the market and open the door for steady gains. Finally, Airlines. While the industry has faced persistent losses, there isn't a[n] oversupply of seats, and regulatory coordination is strong. With the right reforms, Airlines could be poised for a significant turnaround.The sectors best positioned to benefit from China's anti-involution strategy are more domestically oriented. But this policy is bound to have global implications. And the ripples will likely extend to global supply chains, especially in Materials, Chemicals and Autos.Looking ahead, the pace and success of anti-involution will depend on further structural reforms, demand-side support, and the ability to digest industrial credit risks gradually. The upcoming 15th Five-Year Plan could bring more clarity on tax, social welfare, and local government incentives.So, what should investors be paying attention to? China's anti-involution campaign is more than a policy tweak—it's a recalibration of how the country balances growth, innovation, and sustainability. The key is to track sector-level reforms, watch for signs of consolidation, and focus on companies with strong fundamentals and policy tailwinds.Thanks for listening. If you enjoy the show, please leave us a review wherever you listen and share Thoughts on the Market with a friend or colleague today.