Xi’s Reform Gambit

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When Deng Xiaoping initiated China’s market-oriented reforms 35 years ago, he was taking the biggest political risk since the founding of the People’s Republic in 1949. Now that President Xi Jinping has initiated his own, equally risky program of reform, one must ask whether his strategy, too, will pay off.

HONG KONG – When Deng Xiaoping initiated China’s market-oriented reforms 35 years ago, he – and the Chinese Communist Party – was taking the biggest political risk since the founding of the People’s Republic in 1949. When President Xi Jinping unveiled his own reform agenda at last year’s Third Plenum of the 18th CCP Congress, he was taking an equally large risk. Will his strategy pay off?

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