Last week, China delayed the release of major economic data, including third-quarter gross domestic product, industrial production, and retail sales, as the ruling Communist Party gathered for its twice-a-decade congress to establish priorities for the next five years. The “adjustment to work arrangements” fits the hypothesis of Victor Shih, an associate professor at U.C. San Diego and an expert on Chinese elite politics. Shih says that in order for China to continue to grow, it must isolate itself from the global financial system. He joins Maggie Lake to talk about President Xi Jinping’s grip on power, the difficulty of understanding its intentions toward Taiwan, and China’s many economic problems. An “extend and pretend” approach could achieve positive growth over the next few years, says Shih, but it will be extremely difficult for Beijing to avoid a major disruption down the road. Recorded on October 17, 2022.