BEIJING: close collaborator of Xi Jinping Li Qiang has become China’s new prime minister, but the question is whether he will wield any influence as his superior is busy consolidating all power in his hands.
The flip side, however, is that given their close relationship, Li might have more freedom than expected, at least in the area of economics.
Still, the new Li would be suspicious of what happened to his predecessor, the old Li Keqiangwho was weakened and sidelined during his tenure.
Li’s task for this year is already sliced by pulling the economy out of the slump it finds itself in, thanks in large part to the Zero-Covid policy which he and Xi have forced down the throats of the people for more than six months.
But Li played a leading role in freeing China from zero-Covid and refocus the government on economic growth, according to people familiar with the matter. The moves have sparked cautious optimism among entrepreneurs, investors and political analysts that he may be able to exert a restraining influence on his boss, Xi.
Internally, consumer demand has not rebounded as expected following the lifting of Covid restrictions. This is attributed to large-scale unemployment, the inability of young graduates to find jobs, rising prices and other demographic issues.
Faced with weak business confidence, lackluster consumer demand, a shaky real estate sector, a debt crisis among cash-strapped local governments and escalating geopolitical tensions with the United States, the Biggest challenge for Xi and Li remains ensuring the economic recovery stays on track, observers say.
According to a media report, Wu Qiang, an independent political analyst based in Beijing, said Li’s appointment essentially ended more than 40 years of a two-headed system of governance in China – often called the rivalry between the south and the north of Zhongnanhai, in a reference. to the President’s and Prime Minister’s respective quarters within the Beijing compound that houses the Communist Party and state leadership.
China watchers insist Li should study how his predecessor Li Keqiang survived the post if he is to have any chance of doing what he plans to do for China’s economy.
The new prime minister faces a 5% economic growth target for China this year, indicating a shift in priorities away from gross economic expansion. It may be a comparatively conservative target, largely due to strict Covid restrictions and a private sector crackdown.
Li’s challenge is all the more severe as he has no experience of monitoring the economy at this level. He never held a position at the national level until his promotion last fall to the party’s top leadership. That lack of experience and a close relationship with Xi dating back to the early 2000s has led many political observers to speculate he may be nothing more than a yes.
That said, Li showed exceptional skill in taking leaders of diverse opinions with him when he was dealing with the Covid pandemic. He brought the same skill to try to revive China’s economy, observers say.
He’s not alone either. On broader economic policy, Li sought help from He Lifeng, the head of China’s top economic planning agency, who joined the party’s 24-member Politburo in October. Together, they led the development of a plan to move away from regulation to encourage economic growth.
Chinese officials are preparing for Li to attend the Bo’ao Forum, a Chinese government-backed political and business conference, in late March where he could boost his international profile by meeting with foreign leaders, including from Singapore, Malaysia and of Nepal, according to people informed on the subject.
By contrast, the other Li, Li Keqiang, enjoyed a quiet exit as premier after serving as China’s number two for a decade. It is unclear whether he is unhappy with management for the way his exit was planned.
Apparently he told his staff, “While people are working, heaven is watching. Heaven has eyes.” No one knows if this is an encrypted message expressing frustration to Xi Jinping.
According to a media report, “Li’s words betray a deep sense of frustration over a decade in which he could have exercised his broadly reformist agenda but was crippled by being in the shadow of a political strongman and ‘other crises’, according to Dr. Wang Juntao, a friend of Li’s at the prestigious Peking University 40 years ago. ‘It is [the voice of] a defeated person … who hopes that divinity will vindicate him,” said Wang, a political dissident imprisoned in the Tiananmen Democratic Movement in 1989 and now living in exile in the United States.
Li is considered “the weakest prime minister after the Chinese Communist Party came to power in 1949 despite his expertise in Western legal traditions and a law degree and doctorate in economics. When he became prime minister in 2013 he was thought to be a liberal reformer But he was unable to advance as his power was limited by Xi, who placed his allies in key strategic positions over him. increasingly sidelined.
According to media reports, analysts said Li would nevertheless be remembered for the dampening effect he had on Xi and his concern for ordinary people. Li promoted the private economy and foreign investment, contrary to Xi’s emphasis on state ownership, and he relied on private industry data to analyze the state of the Chinese economy.
According to a US diplomatic cable published by WikiLeaks, he described China’s official GDP statistics as “man-made”, and said he relied on data such as electricity consumption and rail freight volumes to understand its own economy.
The flip side, however, is that given their close relationship, Li might have more freedom than expected, at least in the area of economics.
Still, the new Li would be suspicious of what happened to his predecessor, the old Li Keqiangwho was weakened and sidelined during his tenure.
Li’s task for this year is already sliced by pulling the economy out of the slump it finds itself in, thanks in large part to the Zero-Covid policy which he and Xi have forced down the throats of the people for more than six months.
But Li played a leading role in freeing China from zero-Covid and refocus the government on economic growth, according to people familiar with the matter. The moves have sparked cautious optimism among entrepreneurs, investors and political analysts that he may be able to exert a restraining influence on his boss, Xi.
Internally, consumer demand has not rebounded as expected following the lifting of Covid restrictions. This is attributed to large-scale unemployment, the inability of young graduates to find jobs, rising prices and other demographic issues.
Faced with weak business confidence, lackluster consumer demand, a shaky real estate sector, a debt crisis among cash-strapped local governments and escalating geopolitical tensions with the United States, the Biggest challenge for Xi and Li remains ensuring the economic recovery stays on track, observers say.
According to a media report, Wu Qiang, an independent political analyst based in Beijing, said Li’s appointment essentially ended more than 40 years of a two-headed system of governance in China – often called the rivalry between the south and the north of Zhongnanhai, in a reference. to the President’s and Prime Minister’s respective quarters within the Beijing compound that houses the Communist Party and state leadership.
China watchers insist Li should study how his predecessor Li Keqiang survived the post if he is to have any chance of doing what he plans to do for China’s economy.
The new prime minister faces a 5% economic growth target for China this year, indicating a shift in priorities away from gross economic expansion. It may be a comparatively conservative target, largely due to strict Covid restrictions and a private sector crackdown.
Li’s challenge is all the more severe as he has no experience of monitoring the economy at this level. He never held a position at the national level until his promotion last fall to the party’s top leadership. That lack of experience and a close relationship with Xi dating back to the early 2000s has led many political observers to speculate he may be nothing more than a yes.
That said, Li showed exceptional skill in taking leaders of diverse opinions with him when he was dealing with the Covid pandemic. He brought the same skill to try to revive China’s economy, observers say.
He’s not alone either. On broader economic policy, Li sought help from He Lifeng, the head of China’s top economic planning agency, who joined the party’s 24-member Politburo in October. Together, they led the development of a plan to move away from regulation to encourage economic growth.
Chinese officials are preparing for Li to attend the Bo’ao Forum, a Chinese government-backed political and business conference, in late March where he could boost his international profile by meeting with foreign leaders, including from Singapore, Malaysia and of Nepal, according to people informed on the subject.
By contrast, the other Li, Li Keqiang, enjoyed a quiet exit as premier after serving as China’s number two for a decade. It is unclear whether he is unhappy with management for the way his exit was planned.
Apparently he told his staff, “While people are working, heaven is watching. Heaven has eyes.” No one knows if this is an encrypted message expressing frustration to Xi Jinping.
According to a media report, “Li’s words betray a deep sense of frustration over a decade in which he could have exercised his broadly reformist agenda but was crippled by being in the shadow of a political strongman and ‘other crises’, according to Dr. Wang Juntao, a friend of Li’s at the prestigious Peking University 40 years ago. ‘It is [the voice of] a defeated person … who hopes that divinity will vindicate him,” said Wang, a political dissident imprisoned in the Tiananmen Democratic Movement in 1989 and now living in exile in the United States.
Li is considered “the weakest prime minister after the Chinese Communist Party came to power in 1949 despite his expertise in Western legal traditions and a law degree and doctorate in economics. When he became prime minister in 2013 he was thought to be a liberal reformer But he was unable to advance as his power was limited by Xi, who placed his allies in key strategic positions over him. increasingly sidelined.
According to media reports, analysts said Li would nevertheless be remembered for the dampening effect he had on Xi and his concern for ordinary people. Li promoted the private economy and foreign investment, contrary to Xi’s emphasis on state ownership, and he relied on private industry data to analyze the state of the Chinese economy.
According to a US diplomatic cable published by WikiLeaks, he described China’s official GDP statistics as “man-made”, and said he relied on data such as electricity consumption and rail freight volumes to understand its own economy.
