XI JINPING AND CHINA FACE ANOTHER TOUGH YEAR
Every year on December 31st, a glimpse is revealed of an impenetrable world. On Chinese state television, Xi Jinping delivers his new-year address to the nation.
China’s netizens pore over the footage: on no other occasion do they get to see their leader sitting at what purports to be his desk. They swap analysis of Mr.. Xi’s collection of photographs displayed on bookshelves behind him. And they parse his ponderously delivered words.
“Along the way, we are bound to encounter headwinds,” he said this year. Many will see that as an understatement of China’s current woes.
The economy failed to gather momentum. Youth unemployment soared and the property market continued to slump. Foreign investors in China grew more nervous. The headwinds were fierce.
That was 2023. 2024 looks hardly less troubled.













