1/Is Beijing quietly abandoning its ambition to become the world's largest economy? Based on the 20th party congress report, the answer seems to be yes.
2/In the original 2035 targets published in early 2021, the growth goals are new milestones for both gdp and per capita income (aka doubling from 2020 level). In contrast, the 20th work report only mentions new milestone for per capita income, not gdp.
3/This is likely due to Beijing now realizes demographic is deteriorating more rapidly than anticipated (the original 2035 goal was drafted before the 2020 census )
4/Related, major breakthrough in critical technologies (ie chip)"关键核心技术实现重大突破" has been removed, probably an acknowledgement of semiconductor setback
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