alt Hacker NewsXi is the first President/leader China has had who literally never worked another job outside of politics and doesn’t speak a foreign language. They gave him a degree in chemical engineering when the universities re-opened after the cultural revolution but he never even had to pretend to use it. Hu, Jiang, and Deng actually worked as engineers and spoke languages besides Chinese (Russian and/or English).
Despite all that, Xi has done really well for China. I was totally predicting the opposite given that Xi was clearly a departure from the technocratic leaders that previously ran China (I thought Xi was a Mao throwback).
Xi is a fascinating figure. I had real concerns when he pushed through repealing term limits. I thought this could be another Putin but that hasn't been the case.
First, he's had a real anti-corruption push that seems to be meaningful and seems to apply to senior government officials and the wealthy (eg Jack Ma).
Second, real estate speculation was rampant in China for years but Xi quietly popped the bubble more than a decade agao. The property market is still in a dire state but he took the long-term view that housing should be for, well, housing, not investment. He did this by basically increasing the margin requirements that ultimately caused the Evergrade default. I think history will show this was the correct decision.
Third, Xi grew up as "Mao royalty". His father was one of Mao's lieutennants and he was a privileged child of that circle. But when he was a teenager, his father was purged in the Cultural Revolution and was ultimately expelled from the CCP. Xi repeatedly tried to join the party and ultimately succeeded then spending years quietly working in backwaters.
Lastly, Xi has quietly purused a policy of not relying on the West. Investments in renewable energy has been truly massive. Watch in the coming years as China catches up to ASML and TSMC with EUV, a technology that US has embargoed from export to China.