The People’s Republic of China has long harboured ambitions in the High North, and now seeks to extend its influence by exploiting the effects of climate change and rifts within the transatlantic alliance.
China’s leaders recognise gathering, domestic problems, and the dangers of protectionism. Yet policies to address them will have limited effectiveness as they play second fiddle to high growth targets and industrial policy obsessions.
The turmoil in the Middle East has already put Beijing’s forecasts for 2026 in doubt, while the latest Five Year Plan offers no fresh thinking on the country’s top challenges.