China’s economy in 2023: How far will the shift from politics to pragmatism go?

The pictures Chinese President Xi Jinping puts up on his bookshelf during his traditional New Year's speech provide rich food for thought for China watchers. This year, the most prominent new pictures were that of President Xi with his two predecessors Hu Jintao and Jiang Zemin - perhaps to assuage rumours that the unceremonious removal of Mr Hu at the closing session of the 20th Party Congress in October signalled a split in the party.

Also featured was Mr Xi Zhongxun, Mr Xi's father, with then President Jiang. Xi the elder was a prominent reformer under Deng Xiaoping, who piloted China's most successful special economic zone, Shenzhen. In his speech, President Xi also lauded Mr Jiang, who died on Nov 30, for the "great legacy" he left behind, perhaps referring to the Three Represents, the notion chat entrepreneurs and intellectuals can also be part of the party alongside farmers, workers and soldiers.

Mr Xi for the first time acknowledged that life under China's Covid-19 policies for the past three years had been tough, saying: "It has not been an easy journey for anyone." He even seemed to have some reconciliatory words for the protesters against the policies. “Ours is a big country. It is only natural for different people to have different concerns or hold different views on the same issue,” he said, but also stressing that China is a country that draws strength from unity.

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This article was originally published on https://lkyspp.nus.edu.sg/gia/.