As we ring out a tough 2021 and ring in what looks like an unpredictable 2022, a mix of hope and uncertainty lies ahead.
Over the past year, several new variants of Covid-19 emerged, and no one knows for sure when the pandemic will end. As a result, the global supply chain has grown fragile, and the global economic outlook is unpredictable. China’s economy has been stable due to effective epidemic control and macroeconomic regulations — a hard-earned outcome. However, as pointed out at the Central Economic Working Conference, China’s economic development is facing three pressures: shrinking demand, a supply shock and lowered expectations. The external environment is ever more complex and severe. Risk has become a keyword describing socioeconomic development for this year. As Xi Jinping, general secretary of the Communist Party of China’s (CPC) Central Committee, pointed out, we are likely to encounter conflicts and risks both now and in the future, and foreseeable and unforeseeable risks are on the rise. Xi also clearly stated that “we should estimate difficulties more thoroughly and think about risks more deeply.” No efforts should be spared to implement these requirements.
