Revising China’s Foreign Economic Strategy amid the U.S.-China Rivalry

The Chinese economy reached the end of its rapid growth at the late 2000s, and a shift in “growth mode” from investment- and foreign-demand-led growth to consumption- and domestic-demand-led growth is underway. China’s already transforming external economic behavior, including economic growth driven by domestic demand and innovation, regional expansion into Asia and Eurasia, and active involvement in global governance, has been further accelerated and amplified under the U.S.-China competition since the end of the 2010s.