Abstract
On 15 November 2012, at the plenary session of the Central Committee of the Communist Party of China, Xi Jinping was elected the Party' general secretary, whereas he also became the chairman of the influential Central Military Commission. Too eager to wait to be inaugurated as President of the People' Republic of China in March 2013, the new national leader announced that in the following decade he is guided by the main objective of his predecessor Hu Jintao to double the prosperity of the people by the year 2020 and to keep the country' economy stable and growing fast. Unfortunately, it will be difficult for the new leader of China to implement his intentions, since, presumably, the country' new leadership will be from the older generation, hardliners, and, most importantly, politically conservative. But the difficulties lie in carrying out economic reforms because of rampant corruption and shadow banking in the central apparatus and in regions.
According to the World Bank' analysis, China has become the world' largest economy. But the large expenditures to military reform and environmental protection are not sufficient for Xi Jinping to accomplish the goal to raise significantly the poor living standards of Chinese people. China has also faced difficulties in complying with the basic principles of its foreign policy, especially after the annexation of Crimea and its incorporation into the Russian Federation by China' strategic partner, Russia. In the past, China has carried out campaigns against “Americanization”, although with no tangible results. Thus, the leaders of today' China are faced with a number of dilemmas.