Business
China’s next great leap forward could be a setback for Australia – Sydney Morning Herald
Even if Australia’s political relationship with China improves, its plans to turbo-charge a de-carbonised economy will pose challenges for our economy.
Three factors in the five-year plan are driving this. All of them will be approved by 3000 Chinese Communist Party delegates this week.
Along with the net-zero emissions target of 2060, the countrys dual-circulation strategy will increase its reliance on domestic consumption to guard against international threats; and a huge increase to the research and development budget will boost funding for state-backed technology including 6G and electric vehicles in an attempt to leap ahead of the advances…
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