After eighteenth CPC National Congress, the two leaders of China in the past decade, Hu Jintao and Wen Jiabao, both stepped down from the post. Wen even stressed that “please forget me”. FT Chinese columnist Xu Jin joined the debate to discuss what legacy they had left to China and world economy. (See article)
The controversy is right there. During the past decade led by Hu and Wen, China did enjoy substantial GDP growth and increased to the second in the GDP ranking. However, accompanied is a set of more problems to be tackled such as increasing inequality and sky-rocketing housing prices in the domestic market and interest rate dispute in the international market.
She refers to Ray Huang about improvement remedy in both superstructure and underlying structures regarding current reforms. Nevertheless, the latest statement by Xi Jinping on “Common prosperity” may suggest new direction.