China appoints Xi Jinping loyalist as new Premier | Biggest government reshuffle in a decade
Edited By WION Video Desk
Published: Mar 11, 2023, 06:40 IST | Updated: Mar 11, 2023, 06:40 IST
Li Qiang is china’s new premier. Xi Jinping nominated li qing during the ongoing annual meeting of china's rubber-stamp parliament. As premier, li qiang will manage the world's second-largest economy. 63-year-old li qing is a close ally of xi jinping and served as his chief of staff between 2004 and 2007. Back then, xi Jinping was the provincial party secretary of eastern china's Zhejiang province. The incoming premier is widely perceived to be pragmatic and business-friendly. The Chinese economy is still emerging from the coronavirus pandemic. Weak global demand for exports, lingering u.S. Tariff hikes, a shrinking workforce, and an aging population have compounded economic woes. Li Qiang will take office amid rising tensions with the west. The u.S. Is moving to block Beijing's access to key technologies. Many global companies are diversifying supply chains to hedge their china exposure. China's economy grew just 3% last year.
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