Xi Jinping Started His Third Term as China's Leader with No Clear Successor in Sight

Xi Jinping Started His Third Term as China's Leader with No Clear Successor in Sight—He Held the Position Since 2012

10/24/2022

Per WSJ and Bloomberg

Xi Jinping secured his third leadership term after initially becoming the President of the People's Republic of China in 2012. He secured the term with rivals out of the way and no clear successor in sight.

President Xi Jinping recently renewed his pledge to grow China into a 'medium-developed country' by 2035. This implies their economy should double in size compared to the country's 2020 economic levels requiring an average annual GDP growth rate of around 4.7%.

In 2020, Xi Jinping said it was "entirely possible" to double GDP or per capita income by 2035. Analysts from Morgan Stanley say that to do this, China's per capita GDP will have to rise to $20,000 from 2021's $12,500.

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