Technological Innovation Key to China's Modernization, Says Xie Fuzhan

The transcript discusses the profound global changes and challenges, including political shifts, economic trends, and technological advancements. It highlights the widening wealth gap, rising populism, and the impact of protectionism. The focus then shifts to China's economic strategy, emphasizing the need for comprehensive reforms, increased openness, and innovation to ensure steady growth. The importance of institutional development and systematic reform is underscored, along with the role of opening up and technological innovation in enhancing China's global competitiveness.

What is one of the major global trends mentioned that is affecting the world economy?

• Decreasing technological innovation

• Rising protectionism

• Increasing wealth equality

• Decline in digital applications

What is a key strategy for ensuring China's economic growth according to the speaker?

• Reducing foreign investments

• Increasing protectionism

• Focusing solely on local markets

• Deepening reforms and opening up

What role does institutional development play in China's future reforms?

• It should be minimized

• It is less important than before

• It is irrelevant to economic growth

• It plays a more important role

According to the speaker, what is crucial for China's modernization drive?

• Technological innovation

• Reducing international competition

• Limiting market players

• Focusing on traditional industries

What is the speaker's view on China's pace of opening up to the world?

• It will remain the same

• It will stop completely

• It will slow down

• It will accelerate