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George Magnus

Economist and Author

George Magnus

Economist and Author

China’s 19th Party Congress takes place this week—here’s why it matters

By George Magnus Posted on October 19, 2017November 16, 2017 In China 19th Party congress, China 0

First published: Prospectmagazine.co.uk, 16/10/2017

President Xi Jinping will use the event to consolidate his grip on power

On the western side of Tiananmen Square, the Great Hall of the People will this week be the setting for the formal proceedings of the 19th Congress of the ruling Chinese Communist Party. The event, held every five years, isn’t normally of huge interest outside China. But this one is generating more attention than usual. This time is different.

For a start, China’s footprint in the global economy is now bigger than ever. The country has been gifted a global role by President Trump that its leaders couldn’t have imagined a year ago: it is central to resolving tensions on the Korean peninsula, and president Xi Jinping’s Belt and Road infrastructure initiative is attracting a lot of attention. Earlier this year, for example, the UK’s interest was drawn to it by the arrival of the first ever freight train service from Yiwu, about 180 miles south of Shanghai, to London Gateway Terminal.

The real reasons that this Congress is significant, though, are all to do with Chinese politics, and the implications for the power of President Xi Jinping…..Read more:

previously

previously

China’s party congress will matter for investors this time
up next

up next

Xi Jinping consolidates his power in China

About

George Magnus

George Magnus

George Magnus is an independent economist and commentator, an Associate at the China Centre, Oxford University, and an adviser to some asset management companies.

He is a regular contributor to the Financial Times, Prospect Magazine and other written media, and appears regularly on BBC TV and radio, Bloomberg TV and other outlets.

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"George Magnus does not look like a prophet. Yet this is the man widely acknowledged to have predicted that the US sub-prime mortgage crisis would trigger a global recession."

- Josephine Moulds, The Daily Telegraph

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@marcmakingsense @michaelxpettis Hmm. Not so. China is a surplus country with a financial stability problem, and nu… twitter.com/i/web/status/1…
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@marcmakingsense @michaelxpettis Only in right wing economic circles.
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@marcmakingsense @michaelxpettis You’re still talking like a lawyer not an economist. Which is fine. But the point… twitter.com/i/web/status/1…
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@marcmakingsense @michaelxpettis Wood for trees Marc. Systemic reasoning is not word play by any yardstick
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@NeysunM Yeah but you’re not a paid up CCP member
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Copyright © 2017 George Magnus | All Rights Reserved.