There& #39;s a big debate ongoing about Xi Jinping& #39;s new "dual circulation" strategy for China& #39;s economy—boosting domestic reliance/"circulation" above international exchange/"circulation."

Many (understandably wearied) commenters have said it& #39;s old wine in new bottles. BUT... (1/x) https://twitter.com/JulianGewirtz/status/1302982746873176065">https://twitter.com/JulianGew...
There are two parts to this:

A near-term effort to revive export-driven growth & bring foreign capital to China,

&—maybe more important in the long run—a major, security-driven effort, w/Xi now personally invested to an unprecedented degree, to make the domestic shift real.
For Xi, China& #39;s policy has long gone too far in sacrificing economic security (by increasing intl dependence, esp on US) for growth.

"Dual circulation" is a jargonified admission that he feels the CCP needs to do much more to make China& #39;s security & prosperity go hand in hand.
This strategy is an answer to how Xi plans to make U.S.-China decoupling more sustainable for China, alongside indigenous innovation & related moves.

Although bilateral trade volumes are still quite high, Xi appears to be assuming that decoupling is likely to speed ahead.
It& #39;s far, far from autarky, of course, but Xi is crystal clear that he intends to shift the balance in China& #39;s international exposure. 

& it& #39;s his effort at an affirmative story about the model that he wants China to pursue as it faces these geopolitical & global health crises.
Of course, now they need to decide if they& #39;re really prepared to make the necessary shifts to China& #39;s economic & social systems.

But we shouldn& #39;t dismiss this sloganeering out of hand, esp in the era of Xi, who has been so ruthless in refashioning the system around his goals.
The Chinese leadership doesn& #39;t issue slogans like these because they think things will be easy. They issue them to force focus, mobilization, and prioritization across a massive country. 

Watch this space—incl. the 14th Five-Year Plan, w/"dual circulation" a likely centerpiece.
As a historical point, it& #39;s worth noting that "dual circulation" (双循环体系) is a shift from the emphasis on the "great international circulation" (国际大循环) that was the framework for export-led growth & China’s integration into the world economy from the 1980s onward.
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