At the twice-a-decade Party congress under way in Beijing, China’s leadership is making plans for the next 30 years. To achieve his grand ambition, Xi Jinping will need to provide for “the people’s ever-growing needs for a better life”. It is a tall order for an economy which has seen “unbalanced and inadequate development”, as Xi put it in his opening three-and-a-half-hour speech on Wednesday, writes Diana Choyleva in the latest Enodo Weekly.
The good news in the slew of data is that China’s rebalancing is continuing. Investment is falling while consumer spending is growing. For now, the Chinese people are likely to be content with their improving material well-being.
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