Amid increasing uncertainty, what will happen to the world in the next 10 years? Will there be significant changes in the international order? What changes will take place in China?

Professor Lawrence H. Summers, Former US Secretary of the Treasury, expressed concern about the future of China-US relations. He believes China-US relations will be a top global issue in the next 10 years. If not addressed properly, the consequences would be disastrous beyond macroeconomic policy and management issues, having already extended to climate change, the response to the COVID-19 pandemic, and other diplomatic issues. There is even the possibility of military conflict. Summers added that the most important issue now is for China and the US to truly understand each other's intentions and put strategic reassurance at the heart of their work together on issues including technological cooperation, financial stability and global markets.

Professor Lin Yifu highlighted his expectations for China's economic growth by 2035. He suggested economic growth will remain the most important development target for the next five to 15 years. To achieve the aim of doubling its 2020 GDP by 2035 as set out in the 14th Five-Year Plan, China needs to maintain average annual economic growth of 4.7% in the next 15 years. China's growth momentum remains strong, but maintaining a high growth rate of 9% as in the past is not necessary, because China must also focus on issues such as unleashing its growth potential, and structuralproblems like income inequality. In addition, China must focus on the international commitments it has made, such as reaching peak carbon by 2030 and carbon neutrality by 2060. All of this carries costs, but if China can achieve a 5%-6% economic growth in the next 15 years, its economy will become the world's biggest by 2035, and per capita GDP will have doubled.

Download the full report：Plenary Session 3：Outlook for the Next 10 Years