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Theelectro-stateera:
fromMadeinChinatoPowered,DesignedFinancedbyChina?
29October2025
AllianzResearch
AllianzResearch
2
Content
5
ExecutiveSummary
9
Chinaastheworld’sfirstelectro-stateandacriticalprovidertotheworld
13
Theperils:fromexporttrapstoJapanification
21
Thepolicypillars:AI-ledproductivityanddomesticrebalancing
29
TheRenminbi’snextphase:frompropertyshocktocapital-marketopening
3
29October2025
Executive
Summary
?Chinaastheworld’sfirstelectro-state:acriticalproviderandblueprintfortheworldonclean-tech.Chinahasest
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