Yet to misquote Leon Trotsky, even if China isn’t interested in becoming a superpower, superpower may be interested in it. The U.S., too, began its journey on the world stage determined not to replicate earlier colonial empires. Today, 11 carrier groups and a network of military bases span the globe to protect its interests.
Beijing’s crackdown on free speech and other social liberties doesn’t suggest a self-confident regime. A budding trade war with the U.S. has helped shave about 20 percent off Chinese equities since January, triggering a domestic debate over whether Xi has already overreached by bidding so openly to challenge the U.S.
Consider, too, that the average Chinese remains less wealthy than the average Mexican at a time when the population is already starting to age. Some investors wonder about the health of big Chinese banks, whose lending for decades provided the investment-led growth on which the party relies for its legitimacy. If this is a superpower in the making, it may be a fragile one.
August 27th 2018
A few months ago, Xi Jinping seemed unstoppable. He’d just abolished presidential term limits and announced the most sweeping government overhaul in decades. Having hosted Donald Trump for a successful visit in November, Xi seemed to have prevented a trade war with the U.S. Party propagandists were distributing hagiographic accounts of the newly anointed leader for life.
Today, China’s president looks like he may have overreached. An economic slowdown, a tanking stock market, and an infant-vaccine scandal are all feeding domestic discontent, while abroad, in Western capitals and financial centers, there’s a growing wariness of Chinese ambitions. And then there is the escalating trade war with the U.S. China initially refused to believe it would happen, but in the past few weeks it’s become the prism through which Xi’s perceived failings are best projected.
August 7th 2018
China's congress scrapped presidential term limits from the constitution, a move that sets up President Xi Jinping to rule indefinitely and a sign it is returning to a one-man rule system.
March 27th 2018
Where does happiness come from? The answer given by President Xi Jinping must be encouraging to those who work hard.
"I feel the millions of ordinary Chinese are the greatest, and I also feel that happiness is achieved through hard work," Xi, also general secretary of the Communist Party of China Central Committee, said.
Xi's words, from his New Year's address delivered on Dec 31, quickly gained popularity nationwide, and "happiness is achieved through hard work" has been a buzzword among the Chinese people ever since.
May 2nd 2018