Observers and analysts expect the third historical resolution will rehabilitate the official historical narrative of the Cultural Revolution, a 1966-76 sociopolitical movement that led to hundreds of thousands if not millions of deaths, and provide guidance on Xi’s new “common prosperity” push, which some have already dubbed as “Cultural Revolution 2.0.”
The crucial planning meeting comes at a time of rising tumult and crises, ranging from a teetering property sector, slowing economic growth, power blackouts and a regulatory squeeze on tech and other private companies that has pounded bourses to the tune of over $1 trillion in market losses. That’s all raised new questions about Xi’s strongman leadership and his hold on power going forward. That, in turn, has seen Xi make certain compromises with CPC factions linked to previous leaders to win support for the announcement of his next historical resolution.
