China's political elites enshrine Xi Jinping as a historical leader

• The move makes Xi only the third leader to have a historical resolution adopted during his reign, placing him alongside Mao Zedong and Deng Xiaoping.
• During the meeting, the top CCP member also mapped out key plans for China's future.

The big picture: The "historical resolution," summarized in a communique, praised Xi, Mao and Deng for leading the country to achieve "the tremendous transformation from standing up and growing prosperous to becoming strong," specifically commending economic, foreign policy and cultural successes.

• Though it's a major boost to his prospects of securing an additional five-year term, he would not have been able to receive that term had the China's National People's Congress not eliminated presidential term limits in 2018.
• Xi's second term ends in 2023.

Yes, but: China faces economic uncertainty from disruptions to the global supply chain, massive companies faltering on debts and an energy crisis.

• Tensions are rapidly rising between China, the United States, other Western countries and many of its Asian neighbors over multiple geopolitical issues.
• Over the next decades, it will also have to confront social pressures from an aging, decreasing population and growing environmental issues, such as desertification.

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