The Chinese National People’s Congress has voted for an amendment to the constitution that abolishes presidential term limits. The step may mean that President Xi Jinping might remain in office for life.

This is a period when China is going very-very well, the politics of China is quite stable, Xi Jinping has stabilized his hold on power, he’s not going to get a lot of opposition, the vote had two people opposed to it and 2,900 plus supporting it at the congress.

The one thing we do see in China very clearly is a big boundary between the world of politics and the world of business, and that wasn’t so ten years ago.

It was very blurred, politicians were business people there was the rise of what looked like they were becoming oligarchs that’s all ended, in China politicians do politics and the rest of society does its stuff, and the boundary is pretty clear.

China is trying to make state enterprises more hybrid, trying to make the central government and the local governments to have more flexible arrangements, trying to basically create more spaces for growth in the Chinese economy, the huge important stories and the Rise of the Chinese Middle Class.

All Chinese want good health care service, good welfare services, decent environment, and all these things have to be delivered and their expectations are very high.

The growth is meant to be 6,5% but the quality of growth can be variable and it’s a big  transition towards the service sector consuming economy rather than a manufacturing one that exists until now, so these are huge transitional issues and China has a big job to try and create for the first time in modern history a Chinese service sector high consuming economic model.

The mission by China for Chinese to create a powerful, strong, great country and the world either gets used to that or it has to think how on earth to contest it, contesting it won’t be easy, that’s the key story that we are going to see, that China, which will be at the heart of world development for the next decades into the 21st century.

Sputnik / AA Magnum News 2018.

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Albert Heijn
Albert Heijn
24-08-20 12:41

Bye, bye US hegemony?