SMT007 Magazine

SMT-Jan2016

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12 SMT Magazine • January 2016 Once again, it is time to look at the year ahead. This relished tradition puts me on the spot to think more intensely about the coming year. In this first column of the New Year, I usu- ally take a long view on market thrusts in the an- ticipated global economic landscape, as well as mega-technological trends, which include: the highlights of macro-economy outlook, China factor, oil dynamics, cyber security, and grand challenges in technology and the path forward. Reflecting on 2015, China was under an un- usual light as the world watched its economic slowdown and other unprecedented and/or un- expected events unfold. Moreover, 2016 bears new milestones for China. Beijing will reveal a new Five-Year Plan (FYP) for 2016–2020, which is the very first FYP under the Xi Jinping admin- istration. The yuan has also been added to the IMF's Special Drawing Rights (SDR) currency basket. Therefore, this time around I will use this limited space to focus only on the China factor, specifically addressing the new FYP, no- table events in 2015, anticipated key strategies, innovation as an emblem, and anticipated eco- nomic landscape. China is not just a factor, but it's becoming a pivotal factor! As the world's second largest economy and the world's most populous coun- try with huge upside potential, China plays an increasingly important role to the global eco- nomic growth, as well as to corporate business. However, against the backdrop of slower growth, what is China's latest vision for its country? Five-year Plan (2016–2020) Every five years, China's National People's Congress (NPC) approves a Five-Year Plan, which dictates China's economic and social policy. The FYP is a luminous blueprint for ColuMn by Dr. Jennie S. Hwang H-TEcHnologiES group SMT PrOSPECTS & PErSPECTIVES new year Outlook: China's Five year Plan

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