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:

The New York Post: Trump Jr. ‘likes’ tweets undermining credibility of Florida school-shooting survivors The New York Post: Trump Jr. ‘likes’ tweets undermining credibility of Florida school-shooting survivors
Oprah matches Clooneys’ pledge to donate $500,000 for march against gun violence Oprah matches Clooneys’ pledge to donate $500,000 for march against gun violence
Earnings Watch: Roku earnings: Will results justify soaring valuation? Earnings Watch: Roku earnings: Will results justify soaring valuation?
The Wall Street Journal: Justice Department creates cybersecurity task force to fight election interference The Wall Street Journal: Justice Department creates cybersecurity task force to fight election interference
The Wall Street Journal: Trump moves to ban ‘bump stocks’ after Florida high school massacre The Wall Street Journal: Trump moves to ban ‘bump stocks’ after Florida high school massacre
Foreign investors cut appetite for Treasurys as U.S. set to flog record level of debt Foreign investors cut appetite for Treasurys as U.S. set to flog record level of debt
NewsWatch: Dow, S&P 500 snap 6-day win streak; Walmart shares weigh NewsWatch: Dow, S&P 500 snap 6-day win streak; Walmart shares weigh
Personal Finance Daily: How you can benefit from rising interest rates and gas mileage myths that are wasting your money Personal Finance Daily: How you can benefit from rising interest rates and gas mileage myths that are wasting your money

Leave a Reply

Submit Comment
© 2018 Stock Investors News. All rights reserved. XHTML / CSS Valid.