China’s economic locomotive derailed as Xi consolidates power ...Middle East

Since China’s 20th Party Congress convened in mid-October, the assessment of most commentators has been overwhelmingly negative. As was widely anticipated, Xi Jinping was reelected as party general secretary for an unprecedented third five-year term. The main surprise was the extent to which Xi consolidated power by appointing loyalists to key positions while those retiring included individuals considered as reformists. The most visible symbol of the changing of the guard occurred when Xi’s predecessor, Hu Jintao, was escorted off-stage. The market response was a steep sell-off of Chinese stocks and currency. The Nasdaq Golden Dragon China Index of U.S.-listed Chinese companies plunged

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Last updated : 02 Dec 2022 clock 04:17 PM

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China’s economic locomotive derailed as Xi consolidates power ...Middle East

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