China’s economy took centre stage in Xi’s new year address, spinning slow growth as a ‘remarkable’ achievement

Chinese president Xi Jinping delivered his annual televised new year address on December 31, and commentators have been quick to share their interpretation. Some have emphasised Xi’s passing reference to Chinese reunification as a threat against Taiwan. Others have focused on Xi’s comments about China’s economy, framing them as a fearful reaction to Donald Trump’s reelection as US president.

However, these accounts miss the bigger picture. Xi’s new year address speaks to the increasing...