Home Weekly Reviews Economic and Political weekly 16-10-2022

Economic and Political weekly 16-10-2022

Muhammad Arif : Chairman Centre of Advisory Services for Islamic Banking and Finance (CAIF), Former Head of FSCD SBP, Former Head of Research ArifHabib Investments and Member IFSB Task Force for development of Islamic Money Market, Former Member of Access to Justice Fund Supreme Court of Pakistan



China’s 20th Communist Party Congress

Chinese leader Xi Jinping delivers a speech at the opening ceremony of the 20th Communist Party Congress in Beijing on October 16, 2022.

Members of China’s ruling Communist Party are meeting for the 20th Party Congress, a leadership reshuffle that happens twice a decade.

In recent years, these meetings have seen a streamlined transfer of power: the convention is for the top party leader, having completed two five-year terms, to pass the baton to a carefully chosen successor. But this year, Xi Jinping is expected to smash that precedent, taking on a third term as general secretary of the party and pitching China into a new era of strongman rule and uncertainty over when or how the country would see another leader.

As a result, the 20th Party Congress is among the most consequential and closely watched party meetings in decades, and it will reveal much about the direction of the world’s second-largest economy for the next five years.

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