Now that Xi Jinping officially holds the reins in Beijing, the world is asking this question: Can Chinaâ??s new leader revamp an economy that may become the worldâ??s largest during his 10-year term? Hereâ??s an even better one: Will Beijing let him?
Much is being made of how quickly Xi is replacing Hu Jintao in Chinaâ??s fastest formal transfer of power in more than a generation. Although it took Hu almost two years to get all top three positions -- president, Communist Party head and chairman of the military commission -- Xi has them right out of the gate. The sense is that Xi has been empowered to rebalance an economy thatâ??s producing a dangerous gap between rich and poor.
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