Panel 1

Trade, Tech, And AI: Can China’s “New Productive Forces” Recover Its Growth?

China's economy, once driven by infrastructure, housing, and processing trade — known as the “old three drivers” — is undergoing a significant shift. As these sectors yield diminishing returns, China is aiming to escape the middle-income trap by cultivating new engines of growth under the so-called “new quality productive forces”. This strategic pivot focuses on AI and technology-driven sectors like semiconductors, renewable energy, and electric vehicles (EVs), which promise economic revitalisation. However, this transformation is accompanied by challenges such as intense domestic competition, price wars, deflationary pressures, and increased geopolitical and trade tensions, particularly with Western nations.

This panel will examine how China’s ambitions are reshaping global power dynamics, particularly through the ongoing “tech war”, with semiconductors as a central point of contention. It will also explore trade frictions, such as those concerning EVs and AI, as battlegrounds for border geopolitical struggles. By delving into these cases, the panel would aim to discuss strategies for governing and navigating these issues moving forward, fostering a more sustainable global trade architecture.