The most powerful Chinese Leader in decades, XI Jinping, the “Good Emperor”, is starting his second five-year team on a high note, focusing on economic reforms of the world’s second largest economy.
However, the most remarkable reform enacted by the just-ended National People’s Congress is the lifting of term limits on XI Jinping’s, tenure as President. So Mr. Xi can continue in the post after the next five years.
_In the last thirty years, but particularly under Xi Jinping, Chinese economic progress has been phenomenal. Over the course of Xi’s first five years, the Chinese economy expanded by more than 50 percent to 13.1 trillion dollars, creating over 60 million new urban jobs and lifting 68 million people from poverty.
If, in the next 5 years, the Chinese economy expands again by 50 percent, it would perhaps have nearly overtaken or matched the size of that of the United States.
Expect a period of heightened world economic rivalry and political tensions!