Chinese President Xi Jinping has invoked a long discarded Maoist slogan to call on state-owned enterprises to make advanced components that are now mostly imported.
Even as Mr Xi has sought to position China as a champion of globalisation amid the US retreat into protectionism, the call for “self-reliance” highlights how Mr Xi is also advocating mercantilist policies that could reshape global supply chains.
The US commerce department’s ban on US companies selling components to Chinese telecoms equipment maker ZTE earlier this year, though subsequently lifted, exposed China’s vulnerability to such sanctions.
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