Analysis: Unprecedented developments likely as Xi plans to extend reign
Oct 22, 2021
Tokyo [Japan], October 22 : After the removal of term limits in 2018, President Xi Jinping is heading into a third term and could rule China indefinitely.
Katsuji Nakazawa, writing in Nikkei Asia cautioned we should be prepared for unprecedented developments as Xi extends his reign through his goal of 'common prosperity'.
In the span of a few days, two key developments have unfolded in China, both directly connected to the bid by Xi Jinping, the country's president and the party's general secretary, to become the leader for life.
The party's Politburo on Monday decided to hold a key political meeting from November 8 - 11. The sixth plenary session of the party's 19th Central Committee will deliberate on and adopt a "key resolution on the major achievements and historical experience of the Party's 100 years of endeavours," the Politburo said.
If the current leader does stay on beyond next year's Communist Party National Congress, then "common prosperity" is set to be the era's defining phrase, said Katsuji.
The October 16 edition of the Qiushi Journal, the party's publication, carried an August speech by Xi that outlined this new political goal.
In it, he pledged to ensure substantive progress toward correcting the nation's income inequality, resulting in equal access to basic public services by 2035. This marked the first time that a timeline for common prosperity was put forth.
What is the significance? Such a grandiose goal cannot be expected to be met by 2027, the end of Xi's expected third term as the party's general secretary, the most powerful position in the country, wrote Katsuji.
Hence the buzz about a fourth term, from 2027 to 2032.
Moreover, Xi is targeting the Chinese top companies to achieve goals of common prosperity. Over the past year, several mysterious incidents have taken place in China.
They include the postponement of Ant Group's listing, pressure on ride-hailing giant Didi, a ban on tutoring schools for children of compulsory school age, strict limits on children's online video game playing and the debt crisis of major property developers China Evergrande Group, reported Nikkei Asia.
With the leader's goal set in stone, common prosperity must be realized at any cost. And if problems arise? Those will be treated as necessary sacrifices.
This is just the beginning. Prepare for unprecedented developments as Xi extends his reign, said Katsuji.
