Katsuji Nakazawa is a Tokyo-based senior staff and editorial writer at Nikkei. He spent seven years in China as a correspondent and later as China bureau chief. He was the 2014 recipient of the Vaughn-Ueda International Journalist prize.

President Xi Jinping, center, has picked an economic team that includes, clockwise from top left, Premier Li Qiang, Central Bank Gov. Yi Gang, Finance Minister Liu Kun and Transport Minister Li Xiaopeng. (Nikkei montage/Reuters/Kyodo/Yusuke Hinata)
Economic ministers are marginalized as the CCP takes over policymaking