The trade war is President Xi Jinping's biggest challenge yet.
(Baonghean.vn) - Analysts say the trade dispute between China and the US could be the biggest challenge Chinese President Xi Jinping has faced since taking power in 2012.
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| Chinese President Xi Jinping. Photo: AP |
During his first term, the Chinese president has achieved many of the goals on his “to-do” list both at home and abroad. In addition to increasing China’s military presence in the South China Sea, Xi Jinping has also expanded China’s global influence through his ambitious “Belt and Road” initiative.
On a personal level, he has succeeded in silencing opposition factions both inside and outside the Chinese Communist Party, abolishing presidential term limits, and enshrining “Xi Jinping Thought” in the country’s Constitution. However, a trade war between Beijing and Washington has created a whole new situation.
“This is the biggest challenge,” said Shi Yinhong, an international affairs expert at Renmin University in Beijing and an adviser to China’s State Council. “If the trade war continues on a large scale and is prolonged, China’s economy and finance will definitely suffer. The great rejuvenation of the Chinese nation, or the Chinese dream, will not always move forward.”
The trade dispute could force China to change the way it conducts itself internationally, perhaps even adopting a more flexible stance than it has in the past, Shi said. “China has moved too fast on the strategic front in recent years. Now it needs to adjust its priorities.”
Mr. Thoi emphasized that facing increasing pressure from the US and Western countries on trade issues, China will be forced to make significant concessions.
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| The US-China trade dispute could be the biggest challenge Chinese President Xi Jinping has faced since taking power in 2012. Photo: Getty |
Political scholar Chen Daoyin believes that regardless of the trade terms being adjusted, one should not expect any significant changes on China’s political front. “Chinese intellectuals hope that economic and political reforms will be pushed forward,” he explained.
However, this is impossible. The ruling group is very clear about the conditions for maintaining its government." This expert said that the big problem is when trade conflicts lead to economic stagnation.
At that time, according to expert Perry Link, who studies Chinese politics at the University of California, this would be a major threat affecting the stability of President Xi Jinping's administration./
