Expertview: Who’s business?

Nov 16 2012, 04:15 IST
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Summary“He is cramped already because of the vested interests. He will be cramped by the families who don’t want their wealth to be investigated.

DAVID ZWEIG,

POLITICAL SCIENTIST, HONG KONG UNIVERSITY OF SCIENCE AND TECHNOLOGY

“He (Xi) is cramped already because of the vested interests. He will be cramped by the families who don’t want their wealth to be investigated. But they cramped him to a certain extent with the people they surrounded him with on the Politburo Standing Committee. Most of these guys are over 64 or 65 and they will be legally empowered until they are 70. Is that the leadership that a country facing crises wants? It might want new, fresh ideas. That’s what crises often need.”

MINGGAO SHEN,

CHINA ECONOMIST, CITI, HONG KONG

“Except Xi Jinping and Li Keqiang, other members will retire in 2017, suggesting that policy will focus more on the next five years, which is a pivotal period for China to lay a solid footing to sustain growth and restore confidence on the economic outlook.”

JEAN-PIERRE CABESTAN,

PROFESSOR OF POLITICAL SCIENCE, HONG KONG BAPTIST UNIVERSITY

“The leadership is divided. I’m not saying that they’re not going to try anything. It’s easier for them to move to a new growth model. I think they agree upon that and that won’t be the hardest task. But I see a lot of political paralysis in terms of changing the political system. I don’t see any headway.”

DAVIDE CUCINO,

PRESIDENT OF THE EU CHAMBER OF COMMERCE IN CHINA, BEIJING

“The transition of power offers the new leaders an historic opportunity to quickly implement a decade of stalled reforms that would allow China to shift its economy to a new stage of sustainable growth and towards a more inclusive, higher income society. This will not be an easy task, but we are confident the new leaders will take bold moves because they know that the required reforms are not only necessary, but now also urgent. In not doing so we see the risk of dangerous outcomes in the business environment.”

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