The leader of the world’s second most powerful economy has been proclaimed for the third consecutive time the General Secretary of the Communist Party of China, Xi Jinping.
With Beijing’s agenda under Xi Jinping has become evident within the last few years, the next day is interesting for China and the global economy, given the dependence of numerous countries on China.
Economy
According to a recent AFP report, the Chinese economy is slowing down, a trend expected to persist in the coming years, posing a barrier to the ambitious growth targets set.
Although China’s private sector has seen significant growth in recent decades, the Chinese leader now seems to be turning his attention to building a consumption-driven economy and narrowing the economic gap that has plagued Chinese society.
Geopolitics
China’s rhetoric on the contentious issue of Taiwan has become more dynamic in recent years, with moves by the US, whose agenda mandates an independent Taiwan, triggering increasingly aggressive responses.
Analysts believe that Beijing will attempt to end the status quo in the region and realize its long-standing desire by reuniting mainland China with the island of Taiwan.
Pandemic
Although analysts had estimated that Beijing’s zero-tolerance policy might end with Xi’s re-election as leader, the CCP general secretary has strongly supported this policy, making it clear that he will continue to pursue it in the future.
Given the significant impact of zero covid on global trade – congestion phenomena and falling demand – there is concern about future outbreaks of the pandemic in China.
Source: www.naftikachronika.gr
