Over the weekend, more evidence that China's leader, Xi Jinping, is in trouble.
You wouldn't know it from Chinese state-run media, where he is called "the people's leader," the kind of hero-worship not seen in generations. But that’s a mask, concealing a troubled economy, a still chaotic Hong Kong and reports of grumbling inside China! Those are real problems for a leader facing a U.S. president who just won't back down.
Look what happened over the weekend: Tens of thousands marched to the U.S. consulate, pleading with President Trump to "liberate Hong Kong," the American flag held high, as the crowd sang America's national anthem! The violence continued -- vandalism at subway stations, burning barricades.
China: What Xi Jinping Means For Your Business
Xi Jinping has arguably changed China more than any leader since the reform era began in the late 1970s. Much of what is happening in China today would have happened regardless of the leader due to its size and growing wealth, but Xi has provided direction and a compelling vision for the future. With high economic growth rates, rapid infrastructure development and modern living standards (combined with visions of political and social control) China now offers a refined model of ‘modern state-led capitalism with Chinese characteristics’ that is unique – an attractive mix to many emerging market leaders. As this model is promoted by Chinese leaders this is becoming a global competition for market dominance in developing countries, especially in certain key sectors such as SMART infrastructure, high-speed rail, payment apps and satellite navigation.
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