Xi’s in control.
Next March, when Xi Jinping is appointed China’s President, he will face a very different set of issues than his predecessor, Hu Jintao. Chinese economic growth rates have slowed for seven quarters, and faltering western economies mean a weaker demand for China’s exports. These problems were addressed in Andrea Duarte’s blog post “China: Should it Keep Growing?“
Mr. Jinping will also have to tackle calls for freedom from his people and the global community.
I firmly believe that China’s economic and social issues are tightly connected. To set the nation back on track, leaders must further open markets, and allow greater freedom of speech. An increased flow of ideas will help China innovate and rely less upon its manufacturing sector. This was done with radically beneficial effects in the 70s and 80s with Deng Xiaoping as president.
I disagree with Andrea’s concerns for China’s large population. This factor is more a positive than a negative, as it provides a large group of buyers for the nation’s goods, and an enormous workforce.
If the new leaders can let go of stubborn and outdated regulation, China has the potential to overcome challenges and retake its place as an undisputed economic powerhouse.
Spark: Andrea Duarte’s post and The Man Who Must Change China
Thank you Kyle for your thoughtful response!