{"id":5932,"date":"2022-10-10T22:06:59","date_gmt":"2022-10-10T22:06:59","guid":{"rendered":"https:\/\/asiaposts.com\/commentary-as-xi-jinping-gears-up-for-historic-third-term-chinas-economic-outlook-is-less-bright\/"},"modified":"2022-10-10T22:06:59","modified_gmt":"2022-10-10T22:06:59","slug":"commentary-as-xi-jinping-gears-up-for-historic-third-term-chinas-economic-outlook-is-less-bright","status":"publish","type":"post","link":"https:\/\/asiaposts.com\/commentary-as-xi-jinping-gears-up-for-historic-third-term-chinas-economic-outlook-is-less-bright\/","title":{"rendered":"Commentary: As Xi Jinping gears up for historic third term, China\u2019s economic outlook is less bright"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><span><span>Growth in potential GDP has continued to rely on capital. That cannot go on forever because returns on capital have been declining, when funds have mainly been funnelled into infrastructure and housing, and less in the private sector. So more and more investment would be needed to get the same growth.<\/span><\/span><\/p>\n<p><span><span>Moreover, the debt with which those investments were partially financed has grown faster than GDP. China\u2019s debt now stands at 300 per cent of GDP, which is very high for its level of development.<\/span><\/span><\/p>\n<p><span><span>On the demand side, investment and exports have been relied on too heavily as growth drivers. Consumer demand only contributes less than 40 per cent of GDP, barely 3 percentage points more than decade ago.<\/span><\/span><\/p>\n<h2><span><span>ECONOMIC PRIORITIES HAVE SHIFTED <\/span><\/span><\/h2>\n<p><span><span>These issues have been well known for some time. In 2013, the 18th Central Committee of the CPC laid out ambitious reforms in fiscal, industrial and social policies to catalyse innovation, productivity, and domestic demand.\u00a0 It also said the market would be a \u201cdecisive\u201d force in allocating resources. <\/span><\/span><\/p>\n<p><span><span>But since then, priorities have shifted. President Xi Jinping has placed more emphasis on the leading role of the state, national security and stability rather than growth.<\/span><\/span><\/p>\n<p><span><span>Under the banner of common prosperity, authorities have made a xiaokang<em> <\/em>society \u2013 (moderately prosperous society) their social goal, which justifies scrutiny of China\u2019s lucrative tech giants.<\/span><\/span><\/p>\n<p><span><span>Meanwhile, party reforms have centralised decision power in Beijing and reinvigorated party discipline.\u00a0<span>Enforcer of anti-corruption rules, the Central Disciplinary Inspection, reduced incentives for local officials to make deals with businesses, for instance on land allocation and subsidies,<\/span> <span lang=\"EN-SG\" xml:lang=\"EN-SG\">thereby limiting officials\u2019 entrepreneurial activities and policy innovation.<\/span><\/span><\/span><\/p>\n<\/div>\n<p>[ad_2]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Growth in potential GDP has continued to rely on capital. That cannot go on forever because returns on capital have been declining, when funds have mainly been funnelled into infrastructure and housing, and less in the private sector. So more and more investment would be needed to get the same growth. Moreover, the debt [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5933,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40,20,64,6],"tags":[41,221,263,107],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Commentary: As Xi Jinping gears up for historic third term, China\u2019s economic outlook is less bright - Asia Posts- Trending Post Of the World<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/asiaposts.com\/commentary-as-xi-jinping-gears-up-for-historic-third-term-chinas-economic-outlook-is-less-bright\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Commentary: As Xi Jinping gears up for historic third term, China\u2019s economic outlook is less bright - Asia Posts- Trending Post Of the World\" \/>\n<meta property=\"og:description\" content=\"[ad_1] Growth in potential GDP has continued to rely on capital. That cannot go on forever because returns on capital have been declining, when funds have mainly been funnelled into infrastructure and housing, and less in the private sector. So more and more investment would be needed to get the same growth. Moreover, the debt [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/asiaposts.com\/commentary-as-xi-jinping-gears-up-for-historic-third-term-chinas-economic-outlook-is-less-bright\/\" \/>\n<meta property=\"og:site_name\" content=\"Asia Posts- Trending Post Of the World\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-10T22:06:59+00:00\" \/>\n<meta name=\"author\" content=\"Alex John\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Alex John\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/asiaposts.com\/commentary-as-xi-jinping-gears-up-for-historic-third-term-chinas-economic-outlook-is-less-bright\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/asiaposts.com\/commentary-as-xi-jinping-gears-up-for-historic-third-term-chinas-economic-outlook-is-less-bright\/\"},\"author\":{\"name\":\"Alex John\",\"@id\":\"https:\/\/asiaposts.com\/#\/schema\/person\/54b91a0926cd49743d0b29a2efa4a1d9\"},\"headline\":\"Commentary: As Xi Jinping gears up for historic third term, China\u2019s economic outlook is less bright\",\"datePublished\":\"2022-10-10T22:06:59+00:00\",\"dateModified\":\"2022-10-10T22:06:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/asiaposts.com\/commentary-as-xi-jinping-gears-up-for-historic-third-term-chinas-economic-outlook-is-less-bright\/\"},\"wordCount\":288,\"publisher\":{\"@id\":\"https:\/\/asiaposts.com\/#organization\"},\"keywords\":[\"China\",\"China economy\",\"Chinese Communist Party\",\"Xi Jinping\"],\"articleSection\":[\"Asia\",\"Business\",\"Commentary\",\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/asiaposts.com\/commentary-as-xi-jinping-gears-up-for-historic-third-term-chinas-economic-outlook-is-less-bright\/\",\"url\":\"https:\/\/asiaposts.com\/commentary-as-xi-jinping-gears-up-for-historic-third-term-chinas-economic-outlook-is-less-bright\/\",\"name\":\"Commentary: As Xi Jinping gears up for historic third term, China\u2019s economic outlook is less bright - Asia Posts- Trending Post Of the World\",\"isPartOf\":{\"@id\":\"https:\/\/asiaposts.com\/#website\"},\"datePublished\":\"2022-10-10T22:06:59+00:00\",\"dateModified\":\"2022-10-10T22:06:59+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/asiaposts.com\/commentary-as-xi-jinping-gears-up-for-historic-third-term-chinas-economic-outlook-is-less-bright\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/asiaposts.com\/commentary-as-xi-jinping-gears-up-for-historic-third-term-chinas-economic-outlook-is-less-bright\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/asiaposts.com\/commentary-as-xi-jinping-gears-up-for-historic-third-term-chinas-economic-outlook-is-less-bright\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/asiaposts.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Commentary: As Xi Jinping gears up for historic third term, China\u2019s economic outlook is less bright\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/asiaposts.com\/#website\",\"url\":\"https:\/\/asiaposts.com\/\",\"name\":\"Asia Posts- Trending Post Of the World\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/asiaposts.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/asiaposts.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/asiaposts.com\/#organization\",\"name\":\"Asia Posts- Trending Post Of the World\",\"url\":\"https:\/\/asiaposts.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/asiaposts.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/asiaposts.com\/wp-content\/uploads\/2022\/08\/cropped-cropped-A-2-1.png\",\"contentUrl\":\"https:\/\/asiaposts.com\/wp-content\/uploads\/2022\/08\/cropped-cropped-A-2-1.png\",\"width\":462,\"height\":129,\"caption\":\"Asia Posts- Trending Post Of the World\"},\"image\":{\"@id\":\"https:\/\/asiaposts.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/asiaposts.com\/#\/schema\/person\/54b91a0926cd49743d0b29a2efa4a1d9\",\"name\":\"Alex John\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/asiaposts.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/8ce975f5741e29468ecdbee6c8b181a5?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/8ce975f5741e29468ecdbee6c8b181a5?s=96&d=mm&r=g\",\"caption\":\"Alex John\"},\"description\":\"Hi, I am Alex John, A blogger and online marketer at AsiaPosts.com.\",\"sameAs\":[\"https:\/\/asiaposts.com\"],\"url\":\"https:\/\/asiaposts.com\/author\/amit\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Commentary: As Xi Jinping gears up for historic third term, China\u2019s economic outlook is less bright - Asia Posts- Trending Post Of the World","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/asiaposts.com\/commentary-as-xi-jinping-gears-up-for-historic-third-term-chinas-economic-outlook-is-less-bright\/","og_locale":"en_US","og_type":"article","og_title":"Commentary: As Xi Jinping gears up for historic third term, China\u2019s economic outlook is less bright - Asia Posts- Trending Post Of the World","og_description":"[ad_1] Growth in potential GDP has continued to rely on capital. That cannot go on forever because returns on capital have been declining, when funds have mainly been funnelled into infrastructure and housing, and less in the private sector. So more and more investment would be needed to get the same growth. Moreover, the debt [&hellip;]","og_url":"https:\/\/asiaposts.com\/commentary-as-xi-jinping-gears-up-for-historic-third-term-chinas-economic-outlook-is-less-bright\/","og_site_name":"Asia Posts- Trending Post Of the World","article_published_time":"2022-10-10T22:06:59+00:00","author":"Alex John","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Alex John","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/asiaposts.com\/commentary-as-xi-jinping-gears-up-for-historic-third-term-chinas-economic-outlook-is-less-bright\/#article","isPartOf":{"@id":"https:\/\/asiaposts.com\/commentary-as-xi-jinping-gears-up-for-historic-third-term-chinas-economic-outlook-is-less-bright\/"},"author":{"name":"Alex John","@id":"https:\/\/asiaposts.com\/#\/schema\/person\/54b91a0926cd49743d0b29a2efa4a1d9"},"headline":"Commentary: As Xi Jinping gears up for historic third term, China\u2019s economic outlook is less bright","datePublished":"2022-10-10T22:06:59+00:00","dateModified":"2022-10-10T22:06:59+00:00","mainEntityOfPage":{"@id":"https:\/\/asiaposts.com\/commentary-as-xi-jinping-gears-up-for-historic-third-term-chinas-economic-outlook-is-less-bright\/"},"wordCount":288,"publisher":{"@id":"https:\/\/asiaposts.com\/#organization"},"keywords":["China","China economy","Chinese Communist Party","Xi Jinping"],"articleSection":["Asia","Business","Commentary","News"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/asiaposts.com\/commentary-as-xi-jinping-gears-up-for-historic-third-term-chinas-economic-outlook-is-less-bright\/","url":"https:\/\/asiaposts.com\/commentary-as-xi-jinping-gears-up-for-historic-third-term-chinas-economic-outlook-is-less-bright\/","name":"Commentary: As Xi Jinping gears up for historic third term, China\u2019s economic outlook is less bright - Asia Posts- Trending Post Of the World","isPartOf":{"@id":"https:\/\/asiaposts.com\/#website"},"datePublished":"2022-10-10T22:06:59+00:00","dateModified":"2022-10-10T22:06:59+00:00","breadcrumb":{"@id":"https:\/\/asiaposts.com\/commentary-as-xi-jinping-gears-up-for-historic-third-term-chinas-economic-outlook-is-less-bright\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/asiaposts.com\/commentary-as-xi-jinping-gears-up-for-historic-third-term-chinas-economic-outlook-is-less-bright\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/asiaposts.com\/commentary-as-xi-jinping-gears-up-for-historic-third-term-chinas-economic-outlook-is-less-bright\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/asiaposts.com\/"},{"@type":"ListItem","position":2,"name":"Commentary: As Xi Jinping gears up for historic third term, China\u2019s economic outlook is less bright"}]},{"@type":"WebSite","@id":"https:\/\/asiaposts.com\/#website","url":"https:\/\/asiaposts.com\/","name":"Asia Posts- Trending Post Of the World","description":"","publisher":{"@id":"https:\/\/asiaposts.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/asiaposts.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/asiaposts.com\/#organization","name":"Asia Posts- Trending Post Of the World","url":"https:\/\/asiaposts.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/asiaposts.com\/#\/schema\/logo\/image\/","url":"https:\/\/asiaposts.com\/wp-content\/uploads\/2022\/08\/cropped-cropped-A-2-1.png","contentUrl":"https:\/\/asiaposts.com\/wp-content\/uploads\/2022\/08\/cropped-cropped-A-2-1.png","width":462,"height":129,"caption":"Asia Posts- Trending Post Of the World"},"image":{"@id":"https:\/\/asiaposts.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/asiaposts.com\/#\/schema\/person\/54b91a0926cd49743d0b29a2efa4a1d9","name":"Alex John","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/asiaposts.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/8ce975f5741e29468ecdbee6c8b181a5?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/8ce975f5741e29468ecdbee6c8b181a5?s=96&d=mm&r=g","caption":"Alex John"},"description":"Hi, I am Alex John, A blogger and online marketer at AsiaPosts.com.","sameAs":["https:\/\/asiaposts.com"],"url":"https:\/\/asiaposts.com\/author\/amit\/"}]}},"_links":{"self":[{"href":"https:\/\/asiaposts.com\/wp-json\/wp\/v2\/posts\/5932"}],"collection":[{"href":"https:\/\/asiaposts.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/asiaposts.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/asiaposts.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/asiaposts.com\/wp-json\/wp\/v2\/comments?post=5932"}],"version-history":[{"count":0,"href":"https:\/\/asiaposts.com\/wp-json\/wp\/v2\/posts\/5932\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/asiaposts.com\/wp-json\/wp\/v2\/media\/5933"}],"wp:attachment":[{"href":"https:\/\/asiaposts.com\/wp-json\/wp\/v2\/media?parent=5932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/asiaposts.com\/wp-json\/wp\/v2\/categories?post=5932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/asiaposts.com\/wp-json\/wp\/v2\/tags?post=5932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}