China's Dream Team
by Stephen Roach
November 28, 2012
NEW HAVEN â€“ Chinaâ€™s recent leadership transition was widely depicted as a triumph for conservative hard-liners and a setback for the cause of reform â€“ a characterization that has deepened the gloominess that pervades Western perceptions of China. In fact, nothing could be further from the truth.
Xi Jinping and Li Keqiang â€“ the top two officials in Chinaâ€™s new governing council (the Standing Committee of the Politburo) â€“ are both well educated, well traveled, and sophisticated thinkers who bring a wealth of experience to the many challenges that China faces. As so-called Fifth Generation leaders, they continue the steady progress in competence that has marked each of Chinaâ€™s leadership transitions since the emergence of Deng Xiaoping in the late 1970â€™s.
While it is entirely premature to judge the style and direction that Chinaâ€™s new leaders will take, three early hints are worth noting. First, Xiâ€™s assumption of power is more complete than was the case in earlier transitions. By immediately taking the reins of both the Chinese Communist Party (CCP) and the Central Military Commission, he has a greater opportunity to put his personal stamp on policy than his predecessors had at the start of their administrations.
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(c) Project Syndicate