Xi Jinping's consolidation of power

China's President Xi Jinping's obsession with strength and security raises concern as his consolidation of power leaves little room for dissent, reported Nikkei Asia.

Entering his third term as China's president, Xi repeated his desire to strengthen the country's military and to bolster security and stability at home.

Xi's call for the modernization of national defence and the armed forces "on all fronts" is a message to the US. But the more China tilts toward building a strong nation, the worse its relationship with the US becomes. Tensions must not be allowed to spiral out of control, reported Nikkei Asia.

On Taiwan, Xi vowed to firmly advance the process of national reunification. He stressed that China resolutely opposes external interference and activities for the independence of Taiwan.

As the Taiwanese presidential election of 2024 inches closer, what cards will the powerful leader choose to play? While watching his every move, the US, Japan and China's neighbours need to bolster deterrence, reported Nikkei Asia.

Moreover, Xi surrounded himself with close aides, such as new Premier Li Qiang. Xi's drive for power is worrying. What if China goes down the wrong path, the global implications could be significant, reported Nikkei Asia.

Meanwhile, Li told reporters that the new leadership will support the growth of private enterprises.

He said Beijing "will continue to foster a market-oriented and law-based business environment in keeping with international standards."

Li added that the government will "protect the property rights of enterprises and the rights and interests of entrepreneurs." This statement is worth watching, reported Nikkei Asia.

But in Hangzhou, the capital city of the Zhejiang province, authorities have interfered, and continue to interfere, in the activities of tech giant Alibaba Group Holding.

All across China, government entities and public-sector enterprises have gobbled up private companies.

The realities on the ground are the exact opposite of the path Li laid out. Which is to be believed? The Xi regime needs to prove with actions that its support for private enterprises is real, reported Nikkei Asia.

As the top aide to Xi, Premier Li has to convince his boss and implement opening-up policies that the rest of the world can cheer.

China has an enormous market. What China does in terms of policies has global repercussions. Unless pressure on private companies is relieved, international companies cannot safely invest in the country. And if investment dries up, it will be difficult to reach the growth target of "around 5 per cent" that China has set for 2023, reported Nikkei Asia.