China’s “Two Sessions“ kick off amid uncertainties

中 최대 정치행사 ’양회’ 개막, 관전 포인트는? Hello and welcome to Within the Frame. I’m your new host in Seoul. From today, I’ll be succeeding to bring you a thorough examination and a comprehensive review of hot button current issues in and outside of Korea. Be sure to tune in at the same time, every weeknight, to join our conversation with top experts. At this time of the year, the world has its eyes fixed on China, where the annual meetings of China’s parliament and political advisory body, better known as the “Two Sessions”, take place. The big political meeting kicked off today in Beijing, bringing together thousands of delegates to discuss China’s future policy directions. The stakes are high as China now faces a series of headwinds at home and abroad. For some insights into what we can expect from this year’s “liang hui”, we’re joined by Xu Qinduo, a senior fellow at Pangoal Institution. Also joining us tonight is Song Soo-young, professor of finance at Chung Ang Unviersity’s College of Business and Economics. (XU) Q1. For our listeners who may not be so familiar, could you first give us a general overview of what Two Sessions are? Who takes part, what happens during the meetings and why is it one of the most important events on China’s political calendar? (XU) Q2. Last year’s Two Sessions saw President Xi Jinping installed as the leader of China for an unprecedented third term. What will be the highlight this year? Walk us through some of the key watchpoints. (SONG) Q3. China will set its economic growth target for this year during the big gathering, a number that the world awaits the most. Major international organizations, including the IMF, the OECD and the World Bank, projected China’s growth to fall to the 4% range as the country is faced with a pile of domestic and external risks after a shaky post Covid-19 recovery. But Chinese analysts maintain that it will continue to aim for the 5% range. What’s your take? (SONG) Q4. What’s gaining as much spotlight as China’s growth target, is whether various stimulus measures will be announced to jumpstart the country’s sluggish domestic economy. China’s suffering from weak spending, a plunge in foreign investment while its property market slide is worsening. Do you expect some drastic stimulus package from the Chinese government? (XU) Q5. I wanna zoom in on China’s diplomatic front. China’s former foreign minister Qin Gang resigned last summer, after a long, rather mysterious absence from public view. And many expect that Liu Jianchao, Minister of the Communist Party’s International Liaison Department, will be tapped as Qin’s successor. Who is this man, and do you also expect him to be appointed? (XU) Q6. A wave of attention is also drawn to this year’s message from China to the US. Last year, President Xi bluntly slammed the US, saying that “Western countries led by the United States have implemented all-round containment, encirclement and suppression of China, which has brought unprecedented severe challenges to China’s development”. Do you expect a similar level of criticism? (SONG) Q7. Going back to where we left off, if China unveils a set of stimulus measures to boost its growth, would it help in pushing up Korea’s falling exports to China? Shipments to China dropped significantly last year, by nearly 20% from 2022 while posting a 18 billion dollar trade deficit, the first deficit since forming diplomatic ties with China three decades ago. (SONG) Q8. Opinions remain divided, but many experts and pundits expect China to go soft on the US than last year’s Two Sessions. Professor Song, Are you optimistic that the US and China will seek competition without conflict to avoid zero-sum game, and how would easing tensions between the two superpowers reshape the Korean economy? And that brings us to the end of this show. Thank you for watching, and be sure to tune in same time tomorrow to join our conversation. Good bye for now. #China #Two_Sessions #XiJinping #Economy #Personnel_reorganization #중국 #양회 #시진핑 #외교부_장관 #Arirang_News #아리랑뉴스 📣 Facebook : 📣 Twitter : 📣 Homepage : 2024-03-04, 18:30 (KST)