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The Economic Consequences of Xi Jinping

First published: Survival, International Institute for Strategic Studies, 05-12-2022

In the aftermath of the 20th National Congress of the Chinese Communist Party, Xi Jinping’s principal focus will be on state and national security, while an entirely new economic- and financial-policy team, with little experience, will take charge of China’s troubled economy. Its members will have to manage several systemic problems – a debt mountain, a property bust, a rapidly ageing population, zero-COVID policies – and develop a viable new economic-development model. This would be a demanding agenda anywhere, but Xi’s China has to tackle it guided by an ever more devoutly Leninist approach to economic management, industrial policy and governance, at a time when China faces the most hostile external environment it has known since Mao Zedong, as exemplified by foreign decoupling. Read on….