China's new policy direction will affect road maps of global economies

WHEN China convenes the most important event on its political calendar, the annual National People's Congress (NPC), on March 5, it will approve potentially game-changing, long-term priorities for the next 15 years, which could see China overtaking the US in 2035 as the world's largest economy.

The plan could reshape China's longer-term role in Asia and beyond as it seeks to spur domestic consumption and self-reliance. This will certainly have knock-on consequences on the rest of the global economies.

President Xi Jinping's concept of a "dual circulation" economy - which aims to ensure that China will no longer be held hostage by another country's whims and fancies, following the trade spat with the US which started under former US President Donald Trump's administration - will require businesses and investors to adapt their thinking on what this means for their own long-term road maps.