As top lawmakers gather in Beijing to decide the policy direction during China’s annual parliamentary meetings this week, the world is keeping its eyes peeled for signs that leadership is doing what needs to be done to reinvigorate the economy and reinforce China’s place in the global tech race.
In the lead-up to the official opening of the “two sessions”, a new wave of optimism was sweeping through the world’s second-largest economy. Following last year’s market gloom, when stagnation seemed to be China’s inevitable future and international capital was favouring other Asian markets such as India and Japan, breakthroughs in artificial intelligence (AI) and technology have been reshaping the narrative about China’s economic potential.
The term refers to the moment when a society’s unexpected achievement highlights the underestimation of its technological or innovative capabilities, signalling the need for a reassessment to compete with it.
The market enthusiasm has been evident, and the “China bull market may have just begun”, according to Bank of America.
