Xi’s groups of economic advisers render Premier Li powerless

Special to WorldTribune.com

By Willy Lam, EastAsiaIntel.com

China’s momentous “One Belt, One Road” (OBOR) strategy — a reference to the Silk Road Economic Belt and the 21st Century Maritime Silk Road — has further illustrated the declining political fortunes of Premier Li Keqiang.

Premier Li Keqiang.

Premier Li Keqiang.

Although Li is ranked second on the supreme Chinese Communist Party Politburo Standing Committee (PBSC), he has become a mere executioner of policies set by his boss, Party General Secretary and State President Xi Jinping.

The Central Leading Group on the Construction of the One Belt One Road (CLGOBOR), which has ultimate control over the OBOR megaproject and related institutions such as the Asia Infrastructure Investment Bank, is chaired by Executive Vice-Premier Zhang Gaoli, who is much closer to Xi than to Li.

Moreover, more evidence has emerged that Xi has put together a formidable coterie of advisers on financial and economic issues — and that these Xi proteges ride roughshod over the Li cabinet in terms of high-level decision-making.

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Source Article from http://www.worldtribune.com/2015/05/27/xis-groups-of-economic-advisers-render-premier-li-powerless/

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