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Xi's risky numbers game

China is dangerously obsessed with GDP targets

| China
Are the workers sticking to the target?   © Reuters

Xi Jinping's recent coronation makes him Beijing's strongest leader perhaps since Mao Zedong. The Chinese president is already taking his exalted new status out for a ride by opening the financial sector to greater foreign ownership.

Allowing giants like Goldman Sachs and J.P. Morgan Chase to grab 51% of mainland securities firms radiates confidence. So does removing caps on the overseas stakes in banks. As shows of economic force go, Xi's is a head-turner just as President Donald Trump is scaling back America's international ambitions.

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