China entering the Xi Jinping era

摘要

According to the latest (2015) World Development Indicators China's GDP, at market prices and exchange rate, is US$10.35 trillion. Since Deng Xiaoping provided a new direction to the Chinese economy in 1978, it grew at an unprecedented pace. Its current size is more than twice that of Japan and close to that of the United States. Four generations of political leaders contributed to China's remarkable economic performance. Xi Jinping is the 'fifth generation' political leader of China. Each generation came with its own signature vision of China. The famous oxymoron 'socialist market economy', a slogan crafted by Deng Xiaoping has not been forgotten. Xi Jinping has his own version of the old slogan, the 'China Dream'. This signature slogan of Xi drew worldwide attention. According to the affirmative estimate put forth by You Ji: 'The Xi era is unfolding quite smoothly' (p. 59).