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Beijing's credibility deficit

Xi cannot win business people's confidence without economic and political liberalization

| China

In the aftermath of this year's Chinese National People's Congress (NPC), the key question is whether the gathering produced any evidence that the government can raise the business community's confidence in its ability to manage the country's most difficult challenges since the 1989 Tiananmen crackdown.

A year ago, President Xi Jinping was confident enough to abolish the constitutional term limit on his office. But the world has changed since then. Today, continuing economic slowdown and paralyzing uncertainty caused by the trade war with the United States have raised serious doubts, especially among Chinese private entrepreneurs, whether their leader can regain his credibility as a pragmatic, flexible problem-solver.

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