By Andrew Moody

2020-12-15

Edward Tse, CEO and founder of Gao Feng Advisory, a management consultancy, believes that dual circulation is a concept that fully embraces the emergence of "globalization 2.0".

He said globalization 1.0 was the Made in China era of China being the center of supply, while now, with a huge new middle-income group, the nation is a center of demand as well as supply.

"This is the new pattern of dual cycles of global supply and demand which epitomizes a new era of globalization," he said.

China's dual circulation strategy, in which the domestic economy is the mainstay and the domestic and international economies complement each other, has already attracted much international interest and comment.