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Search resuls for: "Lingling Wei"


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For much of the past year, China’s economy has been reeling under Xi Jinping’s dual campaigns to rein in soaring property prices and to stamp out any traces of Covid-19 within the country’s borders. Now, as he moves to loosen pandemic restrictions, China’s leader, Mr. Xi, is signaling a reversal of his real-estate crackdown, too, a tacit acknowledgment of the economic pain and public frustration that the two policies have engendered.
WASHINGTON—Increasingly adversarial U.S.-China relations are in for their next test, as the two governments try to arrange a summit between President Biden and Chinese leader Xi Jinping later this month. Senior officials and aides have been wrangling over whether the leaders will meet around the Group of 20 summit of major economies in Indonesia in mid-November. The meeting would be their first face-to-face since Mr. Biden’s election, and, people briefed on the discussions said, Chinese officials have only recently re-engaged after ill feelings over the leaders’ last exchange.
Chinese leader Xi Jinping, left, and members of China’s new leadership team appear for a photo in Beijing. The changing of the guard in China will likely alter how Beijing interacts with the rest of the world, especially the West. Gone from the new leadership are the pro-market pragmatists who for decades helped pilot the country’s integration into the global economy. Instead, Xi Jinping is starting his third term in power with a slate of senior Communist Party apparatchiks known for their loyalty to the supreme leader.
Xi Jinping laid out ambitious plans two years ago to expand China’s wealth and double the size of the nation’s economy by 2035. The target would require China’s economy to grow an average of nearly 5% annually over 15 years, according to estimates by officials involved in policy-making. Many economists inside and outside of China now believe 5% won’t be achievable, not just for this year, but also for the longer term.
Xi Jinping laid out ambitious plans two years ago to expand China’s wealth and double the size of the nation’s economy by 2035. The target would require China’s economy to grow an average of nearly 5% annually over 15 years, according to estimates by officials involved in policy-making. Many economists inside and outside of China now believe 5% won’t be achievable, not just for this year, but also for the longer term.
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