Xi Jinping's vision, outlined in 2020, focuses on making China indispensable in global supply chains. This is a response to trade tensions with the US, particularly following the Trump administration's trade war and the COVID-19 pandemic, which exposed global dependence on China for essential goods.
Rather than opening its economy as previously pledged, China opted for an assertive strategy. Instead of increasing purchases of American goods, China aimed to dominate the production and supply of crucial global necessities. This would deter any attempts to economically isolate or pressure China through tariffs or supply chain disruptions.
The central objective is to create a powerful deterrent by controlling vital global supply chains. This ensures that any action against China would have severe global consequences, effectively shielding the country from economic coercion.