How Xi Jinping's Dream Slowed China's Economy
The Journal.
The Wall Street Journal
4.2 • 5.8K Ratings
🗓️ 17 October 2022
⏱️ 17 minutes
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| 0:00.0 | On Sunday, China's top leaders gathered for a big event, the 20th National Congress |
| 0:15.5 | of the Communist Party. |
| 0:17.8 | It kicked off with a piece of music called the Welcome March. |
| 0:23.6 | This meeting happens every five years. |
| 0:26.8 | But party officials gather to discuss the future of the party, lay out policies for the |
| 0:31.5 | coming years, and most importantly, announce their next leader. |
| 0:36.3 | And this year, President Xi Jinping will stay on as party leader for a third term. |
| 0:44.2 | Xi's rule has been driven by his vision for China, which our colleague Lingling Wei |
| 0:49.5 | says he set out when he took over ten years ago. |
| 0:55.2 | Xi Jinping came to power in late 2012 with a lot of promises. |
| 1:03.0 | He talked about his China gene. |
| 1:07.2 | The China gene concept basically conveys his desire to make China this global superpower, |
| 1:18.0 | a superpower that is on par with the United States. |
| 1:24.1 | A big part of Xi's China dream was to make the economy stronger and more self-reliant. |
| 1:30.2 | And on Sunday, Xi doubled down on those ambitions. |
| 1:52.2 | But right now, the Chinese economy is faltering. |
| 1:56.4 | Consumer spending is slowing, GDP is falling, and some say Xi's strategy is to blame. |
| 2:07.2 | Welcome to the journal, our show about money, business, and power. |
| 2:11.7 | I'm Kate Limer, it's Monday, October 17th. |
| 2:20.6 | Coming up on the show, what Xi Jinping's China dream has done to the economy. |
| 2:42.6 | When Xi Jinping first came to power, how did he approach the economy then? |
| 2:48.2 | When he first came to power, he put in place a very ambitious economic reform program |
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