Xi faces new hurdles ahead of third term

Chinese leader Xi Jinping attended the Communist Party’s secret summer retreat on the Yellow Sea this week and visited Liaoning where he stressed the need to follow government orders to curb the pandemic and sustain growth.

He also ordered authorities to address issues related to the drought China is facing due to heat waves and urged everyone to work together to maintain stability as well as economic and social development.

In a firm tone, Xi said, “(China) should insist on self-reliance and make the development of the country and people the basis of our strength, and firmly take the lead in our development.”

Xi appeared resolute, but remains aware that there are multiple issues that could impact his rise to his third term as Chinese president – a move that breaks precedent for the first time in Chinese politics.

Although there are no serious suitors, Xi remains cautious about his image with the Chinese people and wants to project himself as a strongman.

The Chinese president is at a disadvantage because he cannot brag about his goals.

The mortgage revolt staged by disgruntled buyers is Xi’s biggest headache.

Since developers could not deliver on their promises on owning apartments and houses, home buyers have now stopped mortgage payments.

Authorities in more than 100 cities are now grappling with protests staged by angry homebuyers.

Rural Chinese citizens are also angry with the government over the Henan Bank Scam.

Chinese authorities are investigating allegations that five local money lenders stole money from depositors in Henan province and authorities had to quell the protests.

Unemployment is also on the rise.

Data released by the authorities showed that unemployment has risen to 20% and that around 15 million young people are believed to be out of work in China.

A fresh batch of graduates and vocational school graduates are also expected to join this crowd.

Protests – an uncommon sight in China – have become more common in the latter stages of Xi’s second term.

The Chinese Communist Party (CCP) has made the Chinese people docile, but the Shanghai lockdown earlier this year and Hainan’s recent lockdown and mortgage protests show that the Chinese people are growing tired of the authoritarianism of the CCP.

The CCP is expected to announce dates for its twice-a-decade reshuffle, and Xi has only weeks, if not months, to resolve these issues. He is likely to remain president but he would rule over a China that now seems angry with the CCP.

(with entries from Bloomberg)

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