
Premier Li Keqiang's report acknowledged that Beijing foresees "graver and more complex" risks and "both predictable and unpredictable" challenges, with the conclusion that China must be "prepared to fight tough battles" in 2019. It was undiluted realpolitik.
An economic growth target in the range of 6.0% to 6.5% is still massive in terms of the expansion of global capitalism - irrespective of the usual suspects carping on about China "stalling" or mired "in deep crisis." A deficit-to-GDP ratio set at 2.8% - slightly higher than the 2.6% last year - is not exactly a problem for such a huge economy.
What's quite intriguing is how "Made in China 2025" - the full designation - simply vanished from the 2019 Government Work Report.
Yet the policy remains - transmuted in the report on the expansion of "smart plus." By extending tax cuts for manufacturers and small-business taxpayers, Beijing will keep driving no holds barred toward what Li defined as "building up a powerful manufacturing country" - from industrial development to tech innovation.












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