The Congress of the Communist Party of China will be held on October 16.
On October 16, the ruling Communist Party of China will hold a ride that will almost certainly see President Xi Jinping secure a rare third term at the helm of the world's second-largest economy. This is reported by Politico.
In addition, the congress, which is held once every five years, is likely to see a partial reshuffling of the party's highest governing body, the seven-member Politburo Standing Committee. However, Xi Jinping has centralized much of the power, especially in economic matters, over the past decade.
The current congress will also mark a departure from the post-Mao Zedong-era doctrine of collective leadership, designed to prevent the emergence of personality cults at the top.
Also read: Xi Jinping plans to meet with Biden in person in November – WSJ
< p>The new composition of Xi's entourage, including the future prime minister, will be publicly approved at the end of the week-long convention. Li Keqiang, the incumbent Premier of the State Council of the People's Republic of China, has emphasized the need for reforms, which has not been a key focus for Xi, who prefers a state-led approach to managing the economy. Standing Committee of the Politburo. Five years ago, Beijing anticipated Xi's intention to stay in office, scrapping the constitutional two-term limit and denying two likely successors their chance to enter the top power.
Internationally, foreign companies will be anxiously waiting to see if China relaxes the world's strictest pandemic restrictions after the congress. Prolonged restrictions have weakened business interests and sometimes disrupted supply chains, especially from the port of Shanghai. These restrictions are also slowing China's rapid economic growth. In July, the International Monetary Fund cut China's GDP growth forecast for 2022 to 3.3% from 4.4% in April, while warning of a threat of a crisis affecting the country's real estate sector.
Read also: In China called the US a “bully”: what outraged China
Another intrigue is whether Beijing will promote another diplomat to its second-tier body, the Politburo, which has as many as 25 members. Current representative Yang Jiechi, who has played a leading role in US-China relations, particularly with the administrations of Donald Trump and Joe Biden, has reached retirement age.
What is unlikely to change is the geopolitical course Xi has set during his tenure. rule. China calls the United States its main rival and blames it for the “ultimate decline of the West”.
Read also: China identified the “main culprit” of the war in Ukraine – Reuters
We will remind you that China after visit of US House Speaker Nancy Pelosi to Taiwan regularly conducts military exercises near the island. China's Foreign Ministry calls them “necessary and fair”.
Related video
Pelosi's visit to Taiwan, which should indicate winners and losers due to the urgency of the developments, left these seats vacant. Why? Read the article by Natalia Butyrska ” Nancy Pelosi's visit to Taiwan: will there be a big war“.
