China drops references to the policy
Premier Li Keqiang dropped any reference to the official name of a plan to make China a leader in technology in 2025 in a long speech today. However he still said the government wanted to promote IT, high-end equipment, biotech and next-gen automobiles and touted 'Buy China.'
Trump is big on semantics and insisted on changing NAFTA to USMCA even if the changes to the deal were largely irrelevant. He's a promoter and marketer at heart and knows that perception is often reality (something I talk about in the video below).
For China, dropping Made in China 2025 is a token gift to Trump, especially if it means no changes to policy. That's the key going forward. The original plan included subsidies and the US wants to see those scrapped, something China has promised along with "competitive neutrality".
"We're told not to talk about "Made in China 2025" anymore because the Americans don't like it," a local official told the WSJ. "But of course the government will continue to provide support to important industries."
For now, it's a sign that China thinks a deal is coming or is working to make it happen:
