Xi Jinping’s Victory Lap Looks a Little Premature
For all its noise, the president’s “common prosperity” program is still mostly talk and China’s deeply unequal economic structure remains largely unchanged.
Things move fast in China.
Photographer: Lintao Zhang/Getty Images
The Communist Party’s historical resolution that smooths the way for Xi Jinping to rule indefinitely doesn’t shrink from bestowing greatness on China’s leader. That notably includes giving him credit for successfully completing an economic transition that has far from run its course.
China’s development “has become much more balanced, coordinated, and sustainable,” says the communique released by the official Xinhua news agency Thursday night. The economy “is now on a path of higher-quality development that is more efficient, equitable, sustainable, and secure.”