Andrew J. Nathan
For many years, predicting the downfall of the Chinese Communist Party was something of a sport among China watchers. But few serious observers today suggest that China looks unstable. Despite facing numerous challenges, including the implosion of the country’s real estate sector since 2021 and high debt loads that have bogged down local government finances, China’s political system appears strong. Chinese leader Xi Jinping has a firm hold on all the levers of power, and the country is proving to be competitive, or even dominant, in a growing number of twenty-first-century technologies, such as electric vehicles and biotechnology.
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