Visitors Now:
Total Visits:
Total Stories:
Profile image
By silveristhenew (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

China Update

Thursday, November 10, 2016 5:42
% of readers think this story is Fact. Add your two cents.

(Before It's News)

marctomarket.com / by Marc Chandler / Nov 9, 2016

B4INREMOTE-aHR0cHM6Ly8yLmJwLmJsb2dzcG90LmNvbS8tcDN1elpuTldJRVkvV0NNb1NUS1Z5NEkvQUFBQUFBQUFXTzAvZFEwYU83NFBzNGNQSHo1OXc5WnhPSlV4LWxSc01mcnpnQ0xjQi9zNDAwL2NoaW5hLmpwZw==There have been several developments in China that may have been overshadowed by the US election. The US election itself is a mixed blessing for China. Trade and currency issues will likely prove more contentious. However, to the extent that a Trump Administration may pull back from its global engagement and leadership, there may be less confrontation over human rights and freedom of the press.

In terms of China’s politics, an important development has been the suggestion by some high ranking officials that the age limit on Politburo members as set as it had seemed since former President Zemin first articulated it in 2002. This is important because next year, the key seven-member Standing Committee begins a new term. The “seven up, eight down” principle, which means someone 67 years old can be promoted but at the end of their term if they are 68 they must step down, could see five of the seven members replaced (all but President Xi and Premier Li).

This is important in its own right, but also as a precedent for Xi himself, who was recently recognized as “core” leader, something achieved since Deng Xiaoping. President Xi is widely understood to be consolidating power to a great extent. The softer age limit would potentially see Xi stay longer. Currently, it is not unusual in China for leaders to still wield influence even after they leave office.

Ahead of next year’s National People’s Congress, China’s legislature, there are various ministerial changes. Among these, Finance Minister Lou Jiwei has been replaced. He was widely respected, and no new position for him was announced. His replacement is Xiao Jie, who previously worked with Premier Li. Xiao Jie reportedly will focus on three large issues: relations with the US, broadening local government revenue base, and address the real estate market. Xiao recommended increasing property taxes before 2013. This may come back to the fore.

READ MORE

The post China Update appeared first on Silver For The People.

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.