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China builds economic fortress as US trade pressure mounts: Report

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
China is ramping up self-sufficiency in key industries like EVs, semiconductors, and AI to counter US trade restrictions, though challenges in chip production and global market tensions persist.
The article from Firstpost discusses how China is fortifying its economy in response to increasing trade pressures from the United States. According to a report by Bloomberg Economics, China is focusing on reducing its reliance on exports by boosting domestic consumption and investment in high-tech industries. This strategic shift aims to insulate the Chinese economy from external shocks, particularly from ongoing trade disputes with the U.S. The report highlights that China's efforts include enhancing self-sufficiency in technology, increasing state support for key industries, and promoting internal market growth. These measures are part of a broader initiative to create an "economy fortress" that can withstand global economic turbulence and geopolitical tensions.

Read the Full Firstpost Article at:
[ https://www.firstpost.com/world/china-is-building-economy-fortress-amid-rising-us-trade-pressures-report-13862216.html ]