Crouching dragon

Xi Jinping's absolute power will test the world's second-largest economy

The expected confirmation of Xi Jinping for a third term as Chinese Communist Party (CCP) general secretary and the appointment of yes-men in the Standing Committee of the Politburo may offer China watchers and investors some visibility on the immediate political and economic trajectory of the emerging superpower. But none of these developments can be considered benign. Already “president for life”, Mr Xi’s unchallenged stranglehold on the party, the key institution through which China’s leaders exercise control on the country, points to a doubling down on irredentism and state control of the economy. Both trends were evident in Mr Xi’s