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Beijing [China]March 22 (ANI): Xi Jinping’s close associate Li Qiang has become China’s new premier, but the question is whether he will wield any influence as his superiors are busy consolidating all the power in his hands.
The downside, however, is that Lee may have more freedom than expected, at least financially, given their close relationship.
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Still, the new Li Keqiang will remain wary of the weakening and marginalization of his predecessor in office.
Li has had his job done this year, lifting the economy out of its doldrums, thanks in large part to a zero-coronavirus policy that both he and Xi have forced down people’s throats for more than six months.
But Li has played a leading role in moving China away from COVID-19 and refocusing the government on economic growth, according to people familiar with the matter. The moves have stoked cautious optimism among entrepreneurs, investors and political analysts that he could exercise moderate influence over his boss, Xi Jinping.
Internally, consumer demand did not rebound as expected after the lifting of Covid restrictions. This is due to mass unemployment, young graduates unable to find work, rising prices and other demographic issues.
Faced with sluggish business confidence, sluggish consumer demand, a shaky real estate sector, the debt crisis of cash-strapped local governments, and escalating geopolitical tensions with the U.S., the biggest challenge for Xi and Li remains to ensure the economic recovery remains on track. On track, according to The Observer.
According to media reports, Wu Qiang, an independent political analyst based in Beijing, said Li Keqiang’s appointment essentially ended more than 40 years of China’s two-headed governance system – often referred to as the Zhongnanhai rivalry between North and South, with references going to the Communist Party and state leaders The respective residences of the president and prime minister in the Beijing complex where it is located.
China watchers insist that if he must have the opportunity to do what he plans to do to the Chinese economy, Li should study how his predecessor, Li Keqiang, survived in the position.
The new prime minister faces a target of 5 percent growth for the Chinese economy this year, signaling a shift in priorities from pure economic expansion. Relatively speaking, this is likely to be a conservative target, mainly due to the strict Covid restrictions and the blow to the private sector.
Lee’s challenge is all the more daunting because he has no experience overseeing the economy at this level. He had never held a position at the national level until he was promoted to the party’s top leadership last fall. Inexperience and a close relationship with Xi dating back to the early 2000s have led many political observers to speculate that he may be little more than a yesman.
That being said, Li Keqiang has indeed shown a remarkable ability to bring dissenting leaders with him in his response to the COVID-19 pandemic. Observers say he is using the same tricks to revive China’s economy.
He’s not alone either. On broader economic policy, Li has enlisted the help of He Lifeng, head of China’s top economic planning agency, who joined the 24-member Politburo in October. Together, they led the drafting of a plan to move from regulation to encouragement of economic growth.
Chinese officials are said to be preparing Li to attend the Boao Forum, a political and business conference backed by the Chinese government in late March, where he could boost his international profile by meeting foreign leaders from Singapore, Malaysia and Nepal. People were told about it.
In contrast, another Li Keqiang quietly stepped down as premier after a decade as China’s No. 2 leader. It was unclear whether he was unhappy with the way the leadership planned to exit.
Apparently, he told his employees, “When people are working, the sky is watching. The sky has eyes.” No one knows whether this is a cryptic message to Xi Jinping about his frustration.
According to media reports, Dr. Wang Juntao said, “Li’s remarks revealed a decade of deep frustration that he could have pursued his major reform agenda but was hampered by being under the shadow of political strongmen and other crises,”40 Years ago Li was a friend at the prestigious Peking University. “This is [the voice of] A defeated man…hope God will vindicate him,” said Wang, a dissident imprisoned during the Tiananmen pro-democracy movement in 1989 and now in exile in the United States.”
Li was considered “the weakest prime minister since the Chinese Communist Party came to power in 1949, despite his proficiency in the Western legal tradition, with a law degree and a Ph. But he has been unable to make progress because his power is curbed by Xi, who has placed his allies in key strategic positions above him. Over the years, Xi has increasingly sidelined.
Still, Li will be remembered for his detente to Xi and his concern for ordinary people, analysts said, according to media reports. Li’s push for a private economy and foreign investment contrasts sharply with Xi’s focus on state ownership, and he has relied on data from private companies to analyze the state of the Chinese economy.
He has described China’s official GDP statistics as “artificial” and said he relies on data such as electricity consumption and rail freight volumes to understand his economy, according to U.S. diplomatic cables released by WikiLeaks. (Arnie)
(This is an unedited and auto-generated story from a Syndicated News feed, the content body may not have been modified or edited by LatestLY staff)
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