The first session of the Chinese People’s Congress after the corona pandemic is about a great power that sees threats all around, whose military budget is growing faster than the economy, says Asian correspondent Kirsi Crowley.
15:34•Updated 15:35
BEIJING The threats experienced by China from outside its borders are reflected both in expectations of economic growth and in the size of the military budget.
An economic growth expectation of five percent would be high in Europe, in China, known as the factory of the world, it is the lowest for decades.
Last year’s economic growth was only 3 percent. It was largely due to the three years of corona restrictions.
Prime minister Li Keqiang told China’s People’s Congress, the country’s rubber-stamp parliament, that the biggest problem is the world outside China. Exports are hampered by the world’s poor economic situation and high inflation.
China also has its own problems. An important real estate sector has been on the verge of collapse. Many Chinese invest in apartments, so even ordinary people are suffering in the crisis. Big tech giants have laid off a lot of employees.
The plans to start the country’s economy include, among other things, the creation of 12 million new jobs.
Employment is important to China’s leadership, especially now after the years of corona restrictions. The nation has been traumatized by the difficult years. The expansion of unemployment could lead to unrest.
The microchip race is accelerating
The technology sector and research are going to be boosted with billions of euros. Li emphasized the need to build self-reliance, especially with regard to microchips due to the sanctions imposed by the United States.
The military budget will increase by 7.2 percent this year. Now the budget growth is bigger than economic growth expectations.
China’s tensions with neighboring regions and the United States are reflected in military plans. Li Keqiang emphasized that the military’s combat readiness must be strengthened.
He said that China should pursue a peaceful reunification with Taiwan, but Taiwan’s independence efforts must be firmly opposed.
About Xi Jinping, the ruler of everything
What is also significant in the session of the People’s Congress is the stronger concentration of power on the Communist Party and the country’s leader to Xi Jinping. The People’s Congress will confirm Xi’s continuation as the country’s president for a third term.
in China Mao Zedong’s after the reign, leaders have been allowed to be in power for only two terms to avoid Mao-like abuse of cult leadership. Now Xi Jinping has broken this trend.
X becomes practically the ruler of everything.
In this People’s Congress, Xi’s closest favorites are expected to take the highest leadership positions. The People’s Congress is also expected to strengthen the power of the Communist Party in the country’s administration, financial sector, science, technology and the business world.
The Work Report read by Prime Minister Li emphasizes that China is attracting more foreign investments to the country. At the same time, the country’s own system is encased even more closely in the hands of the communist party.
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The session of the People’s Congress started in China, the economic growth target is about five percent