The 20th National Congress of the Communist Party of China (CPC) is currently being held in Beijing. The congress elects the members of the Central Committee that shape the leadership of the country for the next five years. The gathering is also where decisions are announced that have been made for the next half-decade.

It is a significant meeting that takes about a week and paves the way for a new journey for China over the next five years and beyond. It is organized to determine the country’s goals, reforms, strategies and leadership.

First of all, it all has to do with the next five years as the globe's main supply chain center and the world's second-largest economy. Therefore, the outcomes of the congress will have profound impacts on other countries as well as the global economy and geopolitics. For that reason, it is extremely significant for the rest of the world.

Secondly, it's important to remember that the global conjecture has dramatically changed from the 19th National Congress of the CPC to now: The U.S.-China trade war, COVID-19 and China’s tight response measures, the Russia-Ukraine war and the Taiwan crisis have occurred. Those factors deeply affected the global supply chain and increased the cost of production and energy.

Moreover, initiatives like the Belt and Road Initiative (BRI) are decided in such congresses and the outcomes of the congress may bring up similar or related agendas. The future of the BRI could also be decided upon. China’s new road map may increase or decrease the conflicts with the United States. As the U.S.-China and U.S.-Russia conflicts polarize third countries, China’s future foreign policy might reshape third counties' positions against one of the poles.

Currently, it seems that the main domestic agenda is controlling social inequality, the unemployment issue of recent graduates and the coronavirus policy, which hits national growth. In the last decade, China has developed in many different areas. Although many Western China-watchers have concerns about President Xi Jinping’s third term, Chinese people greatly support him and he is very likely to stay in power.

However, the gathering is expected to procure a new relaxed approach to China’s dynamic zero-coronavirus policy, which has a big impact on the economy. The current policy is not sustainable in relation to a strong economy, which is key to the "rejuvenation of the Chinese nation."

China’s new social economy and political agenda will be shaped by a new global conjecture. The current polarized world, new security concerns, transforming supply chain centers and upcoming global trends all will play a role in this congress. Nevertheless, the congress will clarify a road map for China and set new goals to continue moving forward. The result of the congress will answer most of the questions and usher in predictability at home and abroad. China, as one of the key global players, is expected to be the leading economic power in the following years, therefore, the result of the congress will shape not only China but the whole world.