【Abstract】

In summary, there are three broad areas of concern that require thoughtful consideration and rational decision making:

First, as more countries choose to coexist with the COVID-19, the Chinese government needs to start considering a conditional and gradual opening of the country's doors under the premise of safeguarding the health of people;

Second, seven major international security issues will test China's political wisdom and diplomatic skills: China will not only have to face the huge risk of conflicts with two nuclear powers, the US (US-Japan alliance) and India in the Taiwan Strait and along the Sino-Indian border respectively to avoid fighting on both sides, but also be prepared for the possibility of civil strife or local conflicts in three "(near) failed states" (i.e. Myanmar, Afghanistan and North Korea), and to avoid harm in the Iran nuclear negotiations and the Ukraine dispute;

Finally, the "sharp turn" in US monetary policy and the disruption of the global industrial chain constitute the two biggest geo-economic risks. China should actively deal with the negative spillover effects of the Fed's interest rate increase (especially the potential debt crisis), while also trying to defuse the US high-tech blockade of China.