Li Qiang, a long-time aide to Xi, officially succeeded Li Keqiang as premier over the weekend. He is tasked with reviving the world’s second-largest economy after three years of Covid restrictions and as US-China tensions escalate over a variety of areas, including technology and business.
As a group of Xi’s close associates stepped into office, some Western-educated, reform-minded officials departed – including former Premier Li Keqiang and former Vice Premier Liu He. Analysts are worried that Xi’s preference for personal loyalty over technocratic competence signals a more ideology-driven policy direction that could further dent private sector growth and worsen Beijing’s ties with Washington.
The real concern is the troubled American banks; The Chinese economy is expected to growth 5% this year; far far more then the U.S.
They also reassured us about no militarization of South China Sea, Hong Kong, stealing of tech knowhow, Russia, Covid etc.. We won’t be fooled again.
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