The Wall Street Journal: China’s Xi hails ‘new era’ amid bid to consolidate power

BEIJING — Chinese President Xi Jinping is set to emerge from a Communist Party congress that starts Wednesday with all of the allies and authority he needs to monopolize decision making for the next five years.

The affirmation of Xi’s political supremacy suggests he will double down on a drive to reassert party control at home, and project power abroad, during a second term likely to be marked by a slowing economy and volatile foreign relations, especially over North Korea.

Read: 5 reasons why investors need to watch China’s National Party Congress

Beyond that looms the question: Will he step down come 2022? The twice-a-decade congress is expected to endorse Xi’s rise to a level of political control in modern China comparable only to Deng Xiaoping or Mao Zedong. Both remained dominant figures till death.

Xi, in a speech at the opening of the congress on Wednesday in Beijing, hailed the achievements of the last five years and called on party members to “secure a decisive victory” in building a modern, prosperous, socialist nation in the “new era.”

An expanded version of this report appears on WSJ.com.

Also popular on WSJ.com:

George Soros transfers $18 billion to his foundation, creating an instant giant.

Enjoy that cup of coffee! Your total comes to $55.

Filed in: Top News Tags: 

You might like:

: Winning a bet, Tesla builds the world’s biggest battery for Australia : Winning a bet, Tesla builds the world’s biggest battery for Australia
Missing Argentine submarine: ‘Explosion’ detected near last known location Missing Argentine submarine: ‘Explosion’ detected near last known location
Why this year’s Thanksgiving dinner guests may be even more insufferable Why this year’s Thanksgiving dinner guests may be even more insufferable
NewsWatch: 6 things all investors should be thankful for NewsWatch: 6 things all investors should be thankful for
As sexual harassment scandals multiply, parents rethink how they raise their children As sexual harassment scandals multiply, parents rethink how they raise their children
Nearly a decade after Bernie Madoff, Americans still lose their life savings to Ponzi schemes Nearly a decade after Bernie Madoff, Americans still lose their life savings to Ponzi schemes
When is the best time to fly or drive on Thanksgiving? When is the best time to fly or drive on Thanksgiving?
Futures Movers: Oil eases from highest levels since 2015 as traders weigh up U.S. data Futures Movers: Oil eases from highest levels since 2015 as traders weigh up U.S. data

Leave a Reply

Submit Comment
© 4693 Stock Investors News. All rights reserved. XHTML / CSS Valid.