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In recent weeks, Western media commentators have focused extensively on the Communist Party of China's decision to abolish presidential term limits, which will allow Xi Jinping to remain in power indefinitely.What is surprising, though, is the claim China is reneging on some implicit promise to become more like the West.Many observers assumed that China would inevitably embrace Western-style liberal democracy. But even though I, too, was slightly taken aback by the CPC's latest decision, I never considered that simplistic interpretation of modern-day China to be very sensible.If I believed that Xi was preparing to rule China with an iron fist for the next 20-plus years, I would share the doubts of many commentators.Even more remarkable is the fact that it has happened under a non-democratic system, and that Chinese citizens appear to be rather content.If China can sustain 5.5-7 percent annual economic growth for the next 15 years, the number of Chinese earning $40,000 per year could more than double.Contrary to the pessimists who have long been wrong about looming threats to China's GDP growth, I suspect that China's ultimate undoing could actually be its hukou (household registration) system.
of fiscal policy
as feasible option
Unpredictable Trump’s one-way economy
Does the Group of 20 still
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