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Xi Jinping is digging in

First published: CapX 19/12/2018

There had been much speculation about President Xi Jinping’s long-awaited speech in the Great Hall of the People marking the 40th anniversary of ‘Reform and Opening Up’. Although the recent detention of Huawei’s CFO undoubtedly upset China’s leaders, Beijing looked as though it was warming to compromise following the temporary trade war truce agreed at the G20 in Buenos Aires last month.

Yet, expectations that Xi would use the speech to commit again to market-oriented economic reforms, many of which have stalled or been diluted since first getting an airing in 2013, were disappointed. Read on…