Xi Jinping will need to confront China’s major economic challenges after he secures a widely expected unprecedented third term in office, according to David Roche.
. The fund expects the world's second-largest economy to grow 3.3% in 2022 — its lowest clip in four decades, barring the initial fallout from the Covid-19 crisis in 2020.. The investment bank slashed its earnings outlook for the index to zero growth for the year, down from 4% previously."You've seen it in people trying to get their deposit back.
Xi reportedly said the Communist Party of China's congress meeting will offer"two-stage strategic plan for China's drive to build a great modern socialist country in all respects, and will in particular lay out plans for the strategic missions and major measures in the next five years." "Xi called for efforts to focus on tackling unbalanced and inadequate development, and work on new ideas and measures to address problems," the broadcaster said.
There is no doubt Xi will get confirmed, said Roche,"but if he is going to complete his term in office, he has to make real progress on ... social peace. And I think it's a big, big challenge."
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