‘Chinese Dream,’ or Why Second Biggest Economy Scraps Presidential Term Limit


from Sputnik News:

Chinese lawmakers voted almost unanimously Sunday to endow the country’s leader, Xi Jinping, with the power of life-long rule; Sputnik has attempted to determine how justified the move is. Here is a list of Xi’s accomplishments since 2012 – the year when he officially took office.

Xi’s Purges and Flat No to Corruption

For the communist country, the past five years have been a period of sweeping reforms and multiple challenges. For a start, Xi chose to transform the ruling party and introduce progressive measures for better inter-party discipline.

Having thus secured the country’s political unity, he embarked on an all-embracing anti-corruption campaign, which saw more than a million high- and low-level officials, as well as former officials, punished for their malfeasance.

Under the ideology commonly referred to as the “Chinese Dream,” coined back in 2012-2013, Xi outlined the sweeping reforms that China plans to implement through 2020, many of which are now under way.

Technology Comes First

The technological revolution, namely in the IT domain, is one of the landmarks of Xi’s first term. Now, despite being partly isolated from the global Internet, the Chinese are able to hail a cab, book tickets or even buy groceries via smartphones – which were still relatively unheard of before 2012.

China to Overtake US in Environmental Race?

He has also been praised for his hard line on environmental polluters and his pledge to eliminate extreme poverty in the country by 2020. For instance, back in 2012, the term that garnered special attention was “Ecological Civilization,” (EC)  a phrase literally included in the Chinese Communist Party Constitution.

Under the framework of Ecological Civilization, Xi claims to contribute in tackling climate change issues, as well as push for energy transformation and build up China’s renewable energy sector. Back then, Xi described the EC in the most romantic terms:  “green mountains and waters are golden and silver mountains and waters.”

On top of that, as President Donald Trump pulled the United States out of the Paris Accord last year, President Xi Jinping, by contrast, staked out China’s ambition to be a committed player in tackling climate change. Critics then even started speculating on whether China would outpace the United States as the new world’s environmental leader.

Second Largest Economy

Under Xi Jinping, in 2015, China became the first-ever nation to have a GDP exceeding $20 trillion, having doubled its overall output in just six years.  As China has confidently secured its status as the second largest economy in terms of purchasing power parity according to the IMF, China’s Renminbi also enjoys considerable growth and is undergoing internationalization. Separately, China masterminded the founding of the Asian Infrastructure Investment Bank in 2015, whereas its most promising Shenzhen province has been dubbed  the world’s next Silicon Valley.

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