Commentary
Chinese Communist Party (CCP) members have completed their 20th National Congress. Now, all know for sure what was apparent even before the conference convened. Xi Jinping is firmly in control and has placed loyalists in every position of power.
From this easily anticipated outcome, it is possible to draw three conclusions about China’s future. First, the economy will become less market-oriented and operate increasingly according to centralized plans. Second, China will take an increasingly adversarial approach toward trade and economics (probably militarily and diplomatically as well, but these are separate matters). Third, as a consequence of these directions, China’s economy will grow at a much slower pace than previously and than it otherwise could….