Chinas recent declaration of its 2024 economic targets should put America and its allies on alert. Beijings ambition, despite it coming off a higher base and without significant stimulus, underscores a relentless pursuit of growth. Chinas fiscal deficit target of 3% of GDP, along with the issuance of long-term and special bonds, is a clear signal that the regime is ramping up efforts to bolster its economy.

The investment is earmarked for major national strategies and ensuring security in key areas. While the challenge is acknowledged, Chinas steadfast approach of proactive and prudent policies remains unchanged. This resolve is something that Washington should neither underestimate nor idly observe.

Moreover, the recent government work report indicating changes, such as the shift in narrative around housing from “for living in, not for speculation” to raising hopes for lifting real estate curbs, suggests a nuanced approach to domestic economic issues which could translate into enhanced economic stability and strength.

The emphasis on tech self-reliance and the push to promote Chinese brands globally points to a larger strategy of challenging American dominance in technology and commerce. This concerted push towards self-sufficiency is a direct response to the current geopolitical tensions and trade constraints.

Most notably, the omission of the word peaceful in the context of Taiwans reunification signals a potential shift in Beijings approach to the island. As a conservative Republican and staunch supporter of Trumps foreign policy that favored a strong stance against Chinas authoritarian expansion, this is a development that cannot be ignored. It reflects a potential escalation in cross-strait relations that could have significant implications for U.S. interests and our allies in the region.

This kind of ambitious economic planning exemplifies why the U.S. must maintain a robust and competitive stance, reinforcing our economic leadership and global security interests in the face of Chinas growing assertiveness. Trumps administration understood this well, and its imperative that this understanding guides our economic and foreign policy going forward.