Chinese President Xi Jinping painted a picture of a strong Chinese economy in his New Year’s speech, while also alluding to external “uncertainties” as President-elect Trump prepares to return to the Oval Office. “The Chinese economy faces some new conditions, including challenges of uncertainties in the external environment and pressure of transformation from old growth drivers into new ones,” Xi said in his New Year’s Eve message, acknowledging that the nation cannot rely as heavily on international investment, The Wall Street Journal reported. “But we can prevail with our hard...

S he took power in 2012, Xi Jinping urged caution about China’s prospects. “The further our cause advances”, he told fellow leaders, “the more new situations and problems will arise, the more risks and challenges we will face and the more unforeseen events we will encounter.” As China’s economy flounders and social tensions rise—and with Donald Trump preparing to take over in the White House—the coming year will be replete with the kind of difficulties Mr Xi feared. As ever, the country’s murky politics may throw up surprises, too.