In May 2020, China announced its new economic strategy which aims at cutting the country’s dependence on overseas markets and technology in the long-term. This “dual circulation strategy” was yet another result of the deepening rift with the United States. But what does this new economic policy mean for Europe? Host Mark Leonard is joined by Janka Oertel, director of the Asia programme at ECFR as well as Andrew Small, senior transatlantic fellow with the Asia programme at the German Marshall Fund of the United States as well as associate senior policy fellow at ECFR. What lies behind China’s dual circulation strategy? How will the EU approach all of this? And are European policy-makers really prepared to deal with this new challenge coming from China? This podcast was recorded on 4 March 2021. Bookshelf: · “The rise of industrial policy in China, 1978-2012” by Sebastian Heilmann and Lea Shih · Interview with Joe Kaeser in Handelsblatt [German] · “Decoupling - severed ties and patchwork globalisation” by the European Chamber of Commerce in China in partnership with MERICS