China constitutional amendment: The ruling Communist Party enshrined President Xi Jinping’s political thought into its constitution on Tuesday, putting him in the same company as Mao Zedong, and cementing his power ahead of a new top leadership reshuffle, Michael Martina writes. The party unanimously passed an amendment to include “Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era” as one of its guiding principles at the end of its week-long congress. The party is expected to announce its new Standing Committee, the apex of power in China, on Wednesday. The current committee is made up of seven people. Also included in the amended constitution was the party’s “absolute” leadership over the military, that the fight against corruption will continue, Xi’s “Belt and Road” development initiative, supply-side reforms, and giving play to the “decisive role” of market forces in resource allocation. READ THE STORY HERE The most important constitutional amendment of 2017 isn’t to the constitution of a country: It’s the amendment approved Tuesday to the Constitution of the Chinese Communist Party, which enshrines President Xi Jinping’s “philosophy” alongside the thought of Mao Zedong and Deng Xiaoping. - Bloomberg
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