It is an increasingly common refrain in Beijing that vice-premier Liu He has “the worst job in China”.
After spending years in the shadows as President Xi Jinping’s most influential economic adviser, Mr Liu is now a big beast in his own right with a sprawling portfolio encompassing US and EU trade negotiations, financial regulation, monetary policy, state-owned enterprise reform and industrial policy.
Not since the mid-1990s, when Zhu Rongji simultaneously served as central bank governor and China’s de facto economic tsar, has a Chinese vice-premier been asked to carry so heavy a load.
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