As Chinese President Xi Jinping might be preparing for a third term in 2022, some of the retired senior leaders of the Chinese Communist Party (CCP) have opposed the desire of Jinping’s intention to breach the established leadership succession system. The former leaders of CCP have expressed concern over Xi Jinping’s role in slowing down China’s economy, ANI reported, citing a report by The Wall Street Journal. The CCP leaders even expressed opposition to the Chinese government’s decision to focus on State-owned firms for framing its economic policies which they emphasised has impacted the economy of China.
Recently, former Premier Zhu Rongji of the State Council has raised his voice against Chinese President Xi Jinping’s decision to make changes in the party’s system of leader succession and plans of taking the position of President for the third time. The party’s leaders have expressed opposition to the Chinese President’s economic reforms and have called for postponing the decision, The Wall Street Journal reported citing internal sources of the CCP.
Last year, Jinping appeared invincible; however, now his stance on capitalism and the West has affected the Chinese economy. Chinese lawmakers have reportedly raised alarm over the slowdown in China’s growth and in the meantime, strict lockdown rules have been imposed again to control the rise in COVID-19 cases in the country.
Chinese government’s stand on Russia-Ukraine war
As per the news report, Chinese President Xi Jinping has tightened control over a series of private firms which includes tech companies and real estate developing firms. Additionally, the Chinese government might face losses due to the stance taken by them over the Russia-Ukraine war.
The Chinese government had weeks before the Russian attack on Ukraine signed an agreement with Russia in February. Officials have now started discussing making changes in the policy to try and reduce the impact caused by Xi Jinping’s policies.
Furthermore, a closed-door meeting was reportedly held in December 2021 to frame economic policy guidelines. Jinping even accepted the slow economic growth and added that the treasury of government does not have money and it would be difficult for them to distribute money.
(With inputs from ANI, Image: AP)