Xi’s Vow of World Dominance by 2049 Sends Chill Through Markets
- President has vowed to boost China’s international influence
- His Covid, tech and Taiwan policies have cast doubt on plan
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President Xi Jinping has put himself in position to rule China for at least another decade, and possibly for life. The question now is what he’ll do with all that power.
On one level, Xi has made it clear where he wants to take China. At the opening of the Communist Party congress last week, he repeated a goal to make China a modern socialist power by 2035, boosting per capita income to middle-income levels and modernizing the armed forces. Then by 2049, the 100th anniversary of the People’s Republic of China, he wants to ensure the nation “leads the world in terms of composite national strength and international influence.”