19 November 2012

News Story: Xi raises hopes, but China's reform outlook cloudy


China's new Communist Party boss Xi Jinping has raised hopes with a straight-talking debut, but observers say he may struggle to pull off a crucial revamp of the economy and satisfy growing calls for reform.

Xi's ascent comes at a crucial time, with the global economy increasingly reliant on the Asian giant and its ability to accelerate out of its own growth slowdown -- which could also imperil the party's legitimacy.

Xi took the reins of the all-powerful party Thursday as head of its elite seven-strong decision-making body, after intense speculation over how years of factional wrangling would shape the selection.

Read the full story at SpaceDaily