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“He will continue with the Maoist tradition with the Party control on the economy and emphasis on SOEs (state-owned enterprises) and not private companies and internal circulation. Self-reliance, particularly in the high-tech areas, will be a priority as the US will continue to squeeze the high-tech sector in China,” Willy Lam, a senior fellow at The Jamestown Foundation, told AFR Weekend. “For business people they will be disappointed. There used to be people like (Premier) Li Keqiang who said explicitly that Deng’s reforms and open door policy must continue. That time is over.” New leadership When Xi, 69, strode into...
