Chinese President Xi Jinping after a speech in Beijing, October 2022
Tingshu Wang / Reuters

In October, at the 20th National Party Congress of the Chinese Communist Party (CCP), General Secretary Xi Jinping set himself up for another decade as China’s most powerful leader since Mao Zedong, replaced his most economically literate Politburo colleagues with a phalanx of loyalists, and enshrined the Stalinist-Maoist concept of “struggle” as a guiding principle in the Party Charter. The effect was to turn the page on “reform and opening,” the term the CCP uses to describe the economic liberalization that began in the late 1970s and led to the explosive growth of the Chinese economy in the past

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