China Unveils It's New Leaders
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China Unveils It’s New Leaders
By MarketWatch
China unveiled the makeup of its top Communist Party leadership body Thursday, elevating Vice President Xi Jinping, as expected, though some analysts worried about whether the new team would be able to guide the economy smoothly.
Thursday’s announcement meant that Xi becomes China’s leader-in-waiting ahead of a formal handover due to take place next March, when he is slated to assume the presidency.
Vice Premier Li Keqiang was named the party’s No. 2, putting him on the path to take over as premier in March.
The Communist Party also said that its top Politburo Standing Committee would be streamlined to seven positions instead of nine previously.
The elevation of Xi and Li to the nation’s top two posts was widely expected, and they would succeed incumbents President Hu.Jintao and Premier Wen Jiabao.
But several analysts and China watchers expressed concern that responsibility for the economy would go to a set of less experienced hands.
Vice Premier Wang Qishan, highly regarded for economic problem-solving skills, appears to be set to take up the role of anti-corruption tsar — though he too was named a member of the Standing Committee.
