In China, on the 23rd, members of the new top leadership of the Communist Party were elected, and the Xi Jinping leadership started its third term.
The members responsible for steering economic management will be replaced significantly, and the ability to rebuild the economy, which has been slow to recover due to the effects of the "zero corona" policy, will be questioned.
In China, at an important meeting of the Communist Party held on the 23rd, seven members of the Supreme Leadership, including President Xi Jinping, were elected, and the Xi Jinping leadership started its third term.
The new leadership is made up of people with close ties to Xi, such as Xi's close associates and subordinates from his time working in rural areas, further concentrating power on Xi.
Of these, among the members in charge of economic management, Prime Minister Li Keqiang, who led economic measures, and Vice Premier Liu He, who was in charge of trade negotiations with the United States and was known as an economic expert, were not elected to the leadership. The National People's Congress = National People's Congress will be replaced when the term expires.
Premier Li will be replaced by Li Qiang, who led the strict restrictions on going out due to the spread of the new coronavirus as the head of Shanghai, and Vice Premier Liu will be replaced by He Lifeng, who has worked in rural areas for a long time. It is believed that Xi's subordinates from his provincial days will take over.
In China, amid the confrontation with the United States and the declining birthrate and aging population, the economic recovery has been delayed due to the "zero corona" policy that thoroughly suppresses the spread of the new corona infection and the sluggish real estate market. In the future, the ability to rebuild this economic situation and maintain growth will be called into question.