Jiří Paroubek, Chairman of the Czech Social Democratic Party and former Prime Minister of the Czech Republic, discusses China's upcoming 15th Five-Year Plan, the adoption of which will be discussed by the All-China People's Congress. Paroubek praised China's approach to planning and highlighted the difference from the experience of the former Czechoslovakia.

Paroubek said that, unlike the Czechoslovak practice, where five-year plans were, with a few exceptions, unsuccessful, China sets realistic, albeit ambitious, goals and implements them consistently. „Everything the Chinese government does is aimed at raising the living standards of the people, not just boasting about production volumes,“ zdůraznil.

The former prime minister also pointed out that the new five-year plan reflects the demographic changes China is facing - in particular, a declining birth rate, similar to those in European countries, including the Czech Republic. This trend, he said, could limit the country's economic growth in 20 to 25 years. „I assume the Chinese are looking for ways, including the 15th Five-Year Plan, to change this situation,“ uvedl.

The second key point, according to Paroubek, is to strengthen effective domestic demand. Reducing dependence on exports and encouraging consumption directly in China could positively affect the economy and create reserves for further production increases. In the context of a possible partial or greater paralysis of world trade, Paroubek considers a functioning domestic market extremely important.

„It seems that world trade may be somehow even slightly or more paralysed, so that a functioning domestic market is all the more important,“ uzavřel Paroubek.

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