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Closer to China: Five major development concepts

China’s economy is in a historic transition, and opportunities and challenges abound. However, its problems are daunting: slower growth, social imbalances, industrial overcapacity, excessive debt, and massive pollution. How will China’s leadership address such diverse, complex issues? According to President Xi Jinping, China’s model going forward will be driven by development that is “innovative, coordinated, green, open, and shared.” These are now known as the “Five Major Development Concepts”.

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