Merryn Somerset Webb – Moneyweek Magazine (Great Britain) –
As a historian with a revisionist bent, I disagree with Thomas Carlyle’s statement that “the history of the world is but the biography of great men”. However, when assessing China’s development, we need to spend time focusing on President Xi Jinping, particularly after he was named the “core of the party” at the Chinese Communist Party (CCP) Central Committee meeting in October. Will this give Xi the power he needs to advance his previously announced, but as yet undelivered, reforms? Or were those promises always a “bait and switch” – was his real aim to cement power for the CCP and for himself? The answers are key to what happens to Chinese equities – and to the fortunes of those who invest in them – over the next five years.