Index Investing News
Thursday, March 30, 2023
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Xi’s quest to solidify his power poses grave risks to the world

by Index Investing News
October 20, 2022
in Opinion
Reading Time: 3 mins read
A A
0
Home Opinion
Share on FacebookShare on Twitter


The 20th Congress of the Chinese Communist Party (CCP) is a tightly scripted gathering to anoint President Xi Jinping for a precedent-breaking third term as general secretary, institutionalising his totalitarian rule. The twice-a-decade event has been dressed up to look like a consultative assembly, representing the will of China’s 1.4 billion people. But it is actually a rubber stamp exercise to ensure that the concentration of power in Xi’s hands is complete.

Since his advent in 2012, Xi has stamped out dissent with systematic ruthlessness, reminiscent of his role model Mao Zedong. Xi’s series of “strike hard” campaigns were couched as reforms to clean up the governance system, but they enabled him to become the “core leader” with no challengers.

“Xi Jinping thought” is inscribed in China’s constitution. The collegial leadership model — in which Xi’s predecessors rotated in and out of power and decided policies through coordination among CCP factions — is decimated. The journey from one-party rule to one-man rule has been vicious, with Xi unleashing neo-Maoist and neo-Confucian ideology to maximise his hold on China.

A megalomaniac with a heightened sense of historical grandeur, his speeches are laced with quotes from ancient Chinese thinkers and emperors who justified a strong State and hard leadership style. Notwithstanding the CCP’s self-proclaimed revolutionary role to break China free from two millennia of imperialism, Xi’s dream of restoring Chinese greatness is guided by the notion of an ancient “civilisational State” which attained its zenith under despotic rulers.

But the biggest danger is Xi’s excessive personalisation of power. With internal checks and balances extinguished, the fate of the Chinese people rests on Xi’s judgment. Corrective mechanisms to alter policies that misfire or to jettison approaches that fail are now missing.

The onset and global spread of Covid-19 and the subsequent draconian lockdowns which dragged the Chinese economy to its lowest point in 40 years, gave a glimpse of what is to come in Xi’s second decade. He will double down on decisions and use his commanding position to railroad the Chinese people to follow his diktats at all costs.

As China expert Minxin Pei puts it, long-lasting autocrats who extend their rule indefinitely could place the wrong bets, “embark on more ambitious and riskier courses of action” and “bring disasters to their regimes and people”. With China’s demography in decline and its economy entering a new normal of low Gross Domestic Product growth, what the country needs is a breath of fresh air. Instead, it is getting an overdose of Xi eyeing the presidency for life.

Internationally, we will see a more expansionist China. In the run-up to the 20th Congress, Xi avoided a direct clash with China’s principal adversary, the United States (US), to maintain “stability” and secure his third term. But according to Chinese scholar Yun Sun, occasional foreign restraint is a “short-term tactic” as Xi consolidates total power at home. He is likely to grow bolder in pushing back at the US, pressuring Taiwan, Japan, the Southeast Asian countries and India.

Xi’s opening speech at the 20th Congress vowed to “never commit to abandoning the use of force” to reunify Taiwan. It was an ominous sign that he will escalate military crises with external adversaries as he believes the international configuration of forces is turning in China’s favour. Xi’s regional hegemonic push is guided by the historical mindset of China as the Middle Kingdom with inherent civilisational superiority and pre-eminence over its neighbours.

Xi’s vow to “accelerate the building of a world-class military” and his demonstrated readiness to apply coercive force to impose China’s will on adversaries are alarming. India, in particular, stands in the way of Xi’s march to dominate Asia and overtake the US. As India closes the power gap with China in the coming decade, Xi could decide that he has to first deal a pre-emptive blow and cut India down to size before clashing with the more powerful US. India must factor in Xi’s increasing belligerence and prepare for limited wars and stronger counter-balancing coalitions. From being called “Uncle Xi” to “Grandpa Xi”, China’s leader has come a long way. These Confucian labels cannot disguise the greater menace that he represents today and into the future.

Sreeram Chaulia is professor and dean, Jindal School of International Affairs

The views expressed are personal



Source link

Tags: graveposesPowerQuestRiskssolidifyWorldXis
ShareTweetShareShare
Previous Post

What are India’s options in a multipolar West Asia?

Next Post

Israel examines issuing digital state bonds on blockchain

Related Posts

The UFT should stop trying to close excellent public schools

by Index Investing News
March 29, 2023
0

Relentless in its war on public charter schools, the United Federation of Teachers is suing to evict two Success Academy...

Help cities adopt a robust action plan to tackle waste

by Index Investing News
March 29, 2023
0

The world is facing a waste crisis. Unsustainable consumption and production patterns are worsening the triple planetary disasters of the...

Trump supporters latch on to his narcissism

by Index Investing News
March 29, 2023
0

I’m not much of a psychologist. Although like so many others, I did take courses in college that gave me...

Why India’s ranking on the World Happiness Index rankles

by Index Investing News
March 29, 2023
0

Most governments use variations on GDP, or per-capita GDP, to estimate people’s collective satisfaction. But this is an imperfect tool...

Governance By Artificial Intelligence: The Ultimate Unaccountable Tyranny

by Index Investing News
March 29, 2023
0

Authored by Brandon Smith via Alt-Market.us,It’s no secret that globalist institutions are obsessed with Artificial Intelligence as some kind of...

Next Post

Israel examines issuing digital state bonds on blockchain

Britaly? You wish | Financial Times

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

An American and French Story

April 27, 2022

Mobileye IPO: Why the spin-off is important for Intel (INTC)

April 4, 2022

Kraken vs. Coinbase: Which Platform Is Proper for You?

May 5, 2022

How distant collaboration impacts innovation

May 6, 2022

Episode #416: Jan van Eck, VanEck – Thematic Investing, Gold & Digital Property, and Monetary Historical past – Meb Faber Analysis

May 19, 2022

This Week’s $60 Kroger Procuring Journey

April 26, 2022

Why Republicans must support Ukraine as Biden claims moral victory

March 25, 2023

Joe Biden and Xi Jinping meet in Indonesia with tensions high

November 14, 2022
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In