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Xi Jinping formally replaces Hu Jintao as head of China's Communist Party, while the Politburo...
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Thursday, November 15, 2012, 2:56 AM ETXi Jinping formally replaces Hu Jintao as head of China's Communist Party, while the Politburo Standing Committee is cut to seven from nine. The conservative nature of the committee means that hopes for economic reform are low. One new member Zhang Gaoli, presided over fast growth as head of the Tianjin region but racked up huge debts and built dozens of buildings that now stand empty - a model that many feel China needs to get away from.
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