Opening-up leads to a competitive but richer world

China's economic strategy will focus on creating a highly competitive domestic market, high-value goods, high wages

China is in the midst of implementing a host of reforms, which are focused on opening up its economy to foreign competition and strengthening its private sector. They are needed to upgrade its industries and avoid the dreaded middle-income trap.

Many of these reforms are exactly what the United States is asking for in the trade negotiations, but China is actually pursuing these reforms primarily to achieve its own long-term internal economic goals.