Chinese leaders focus on tech as they make 5-year plan - wpta21.com

techsooper.blogspot.com

BEIJING (AP) — Chinese leaders are meeting to formulate an economic blueprint for the next five years that is expected to emphasize development of semiconductors and other technology at a time when Washington is cutting off access to U.S. technology. That reflects the urgency felt by President Xi Jinping’s government to promote self-sustaining growth supported by domestic consumer spending and technology development as tensions with trading partners hamper access to export markets and technology. The ruling Communist Party wants Chinese companies to rely on domestic suppliers and consumers. Economists warn that while this might help to reduce disruption of trade disputes, it will increase costs and reduce productivity.

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