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Politics has a nasty habit of surprising us – especially in a country like China, where there is little transparency and a lot of intrigue.The backlash against Xi began even before the vaccine revelations.And, in fact, today's economic news in China is grim, beginning with a 14 percent decline in stock prices this year. Xi has not repeated that bit of economic illiteracy this time around, but what will come next for China's stock market remains an open question.Far from a rejuvenated hegemon poised to reshape the global economy, Xi's China has been exposed as a giant with feet of clay.This is not lost on China's elites, whose frustration is palpable – and rising.Yet, despite rumors of pushback against his power by retired elderly leaders, Xi is unlikely to be overthrown. Nonetheless, the road ahead for Xi remains treacherous.Xi probably doesn't have much choice but to face them.
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