Aug 20, 2024, 7:37 PM
Aug 20, 2024, 7:37 PM

Xi Jinping Shows Signs of Economic Struggles in China

Highlights
  • Xi Jinping is showing signs of economic struggles in China.
  • The Chinese President's actions reflect concerns over the country's economic woes.
  • Xi Jinping's approach towards the economic challenges is being closely analyzed.
Story

In a notable shift in Chinese economic policy, experts suggest that President Xi Jinping may be adopting a "lying flat" approach, reflecting a broader trend within the Communist Party of China (CCP). This assessment follows the mid-July third plenum, where the CCP traditionally outlines its economic strategies. During a subsequent forum, Xi acknowledged the significant difficulties facing China's economy, a rare admission that signals potential cracks in his leadership. Contradicting Xi's previous directives, the State Council announced on August 3 a series of measures aimed at stimulating private consumption in the service sector. Analysts interpret this policy reversal as a "correction" of Xi's earlier strategies, which could undermine his authority within the party. Commentator Tang Jingyuan noted that such changes indicate a growing willingness among party members to question Xi's leadership, suggesting a potential shift in power dynamics. The trend of "lying flat" appears to extend beyond Xi, affecting local CCP officials as well. Reports have emerged of police officers in northwestern China and nearby regions reporting local Party secretaries for corruption, reflecting a climate of discontent and caution among lower-ranking officials. This behavior may stem from their perception of Xi's own diminished assertiveness, leading to a ripple effect throughout the party hierarchy. As Xi navigates these challenges, the historical parallels to Mao Zedong's tactics during the Cultural Revolution loom large. Observers remain vigilant, uncertain of when Xi might reassert his authority, as local officials balance their actions between compliance and self-preservation.

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