China is holding a major policy meeting, as trade tensions with the United States rise. The world's second-largest economy is charting a course through global uncertainty.

Beijing

The Chinese Communist Party leadership is meeting in Beijing to determine the country's next five-year plan, a process conducted behind closed doors to prevent information leaks. The discussions come at a time of economic uncertainty, with China facing sluggish domestic growth and heightened trade tensions with the United States.

Recent US actions, including threats of increased tariffs and responses to China's export controls on rare earth minerals, have intensified the trade dispute. Both countries have imposed additional port fees and may soon reintroduce higher tariffs. Diplomatic efforts are ongoing, with a meeting between US and Chinese leaders scheduled, as China aims to maintain steady policy and economic growth amid global challenges.

China's Communist Party meets to map out next five-year plan

It's here, inside the Great Hall of the People in Beijing, that the Chinese Communist Party leadership usually gathers to decide the country's direction. Sealed off from the outside world for four days to prevent leaks, this week they will map out their next five-year plan. The world's second largest economy is charting a course through global uncertainty, from sluggish growth at home to an escalating trade confrontation with the United States. China is strongly dissatisfied with a series of US actions. We hope the US side will respect the outcomes of trade consultations and correct its erroneous practices. Washington has threatened an additional 100% tariff on Chinese imports from November 1, on top of existing duties, in response to Chinese new controls on exporting rare earths, minerals essential to much of manufacturing, from electric vehicles to sophisticated weapons. Both sides have also rolled out special port fees on the other's vessels. And with a short-term truce in the tariff war starting to fall apart, higher tit-for-tat duties could snap back as soon as November. But diplomacy could come to the rescue. Donald Trump, ever the deal-maker, prefers to settle disputes face-to-face. In his first term, meetings with Xi produced brief pauses in their trade war. Now, the two are set to meet again in less than two weeks, their first encounter in six years. I think so. It looks like it's going forward. I think so. They want to meet. We like to meet. I have a very good relationship with President Xi, and we're going to see what happens. In Beijing, it's about planning for the long term, shaping policy, leadership and the economy for what China sees as its continued rise. Leadership here will be hoping that steady, calculated decision-making will help it navigate what remains one of the world's most fractious and potentially explosive rivalries.

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Breakdown