Earlier, the Central Committee of the Communist Party of China selected the new leaders to seat the seven seats of the powerful Politburo Standing Committee, the committee consisting the top leadership of the Communist Party of China and therefore, the highest committee of the second largest economy, the People’s Republic of China which to be lead by the new General Secretary, Xi Jinping and the new Deputy Party Secretary, Li Keqiang. Xi Jinping will assume as the President of the People’s Republic of China from Hu Jintao, the outgoing president on 15 March 2013 and Li Keqiang will assume as the Premier of the People’s Republic of China from Wen Jiabao, the outgoing premier on the same date.
Their selection was a already expected as in 2007, Hu Jintao and Wen Jiabao chose Xi Jinping and Li Keqiang as their successors taking them the position as the Vice President and the Vice Premier of the State Council of the People’s Republic of China.
The selection of Xi Jinping and Li Keqiang was significant as for the last decade, China has been experiencing one of the most spectacular economic growth and international rise in recent history as China has been able to grow economically with an average of 10% annually from 2002 to 2011 and became the second largest economy after the United States in 2010, surpassing Japan as China has able to benefit the dividend of the WTO’s membership in 2001 like increased FDI inflows, freer capital inflows, lesser inflation, and the increased standard of living.
China has able to expand their economic and political influence for the last 10 years as Chinese companies whether state-owned or privately-owned has able to tap the opportunity given by the globalized economic system to cover the needs of the increasing domestic demand of Chinese people within the Mainland China like pouring investments in Argentina, Australia, Africa, Brazil, Canada, Chile, Indonesia, Iran, Russia, Saudi Arabia, and the United States that have bring a increased economic growth and development with the rest of the world for the last 10 years.
The new leadership will be different from the previous two leaderships of Jiang Zemin and Hu Jintao as Xi and Li was not chosen by Deng Xiaoping, the father of China’s peaceful rise to govern the People’s Republic of China and expected to have different visions from Deng as the rising middle class for the past decade means that more political and civil rights to be demanded for them in
Despite of the enormous economic gains, China is still experiencing massive income inequality; tight control on political and civil rights of the people; political corruption; fragile financial sector; poor relations with its immediate neighbors like Vietnam, Taiwan, South Korea, Japan, and the Philippines; and environmental degradation that the newly designated leaders of the People’s Republic of China needs to be addressed in order to continue the peaceful and gradual rise of the People’s Republic of China as one of the leading countries in the world that would be beneficial not only to their citizens but also the rest of the humanity.