LONDON (ICIS)--Click here to see the latest blog post on Chemicals & The Economy by Paul Hodges, which looks at how the divide at the top of China’s ruling elite will decide the fate of the country’s economy.
The author says the divide at Communist party’s top between the Princelings, led by President Xi, and the Populists, led by Premier Li, will be key on how China controls asset bubbles, notably in real estate.
“The question, of course, is whether Xi will succeed, given the entrenched opposition of the Populists and all those who have benefited from the post-2008 mania? The next 12 months are likely to provide a very bumpy ride – not only for China, but also for the global economy,” says Hodges.Editor’s note: This blog post is an opinion piece. The views expressed are those of the author and do not necessarily represent those of ICIS. Paul Hodges is the chairman of consultants International eChem.