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China's President Xi Jinping speaking during a Chinese Communist Party meeting in Beijing in June. Photo: Ding Lin/Xinhua via Getty Images

Top members of the Chinese Communist Party in a closed-door meeting in Beijing Thursday adopted a resolution on the party's history that exalted President Xi Jinping as a historical leader of the country.

Why it matters, via Axios' Bethany Allen-Ebrahimian: The high-level meeting, occurring in the same year as the CCP's 100th anniversary, has further solidified Xi’s supremacy and paved the way for him to assume an unprecedented third term at the party congress next year.

  • 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.

Go deeper: Europe's China critics

Go deeper

D.C.-Beijing tensions are shifting markets

Illustration: Aïda Amer/Axios

U.S. markets stand to lose $2 trillion in value if D.C. and Beijing drift further apart.

Why it matters: Political chasms are showing up in new securities regulations that put companies and investors in a bind. The rules are also another reflection of how much relations between the world’s largest economies have cooled, even as they remain economically interdependent. 

Scoop: Trump-backed Perdue says he wouldn’t have certified Georgia 2020 results

Perdue at a December 2020 campaign event in Columbus, Ga. Photo: Elijah Nouvelage/Getty Images

Georgia gubernatorial candidate David Perdue wouldn’t have signed the certification of the state’s 2020 election results if he had been governor at the time, the former Senate Republican told Axios.

  • “Not with the information that was available at the time and not with the information that has come out now. They had plenty of time to investigate this. And I wouldn’t have signed it until those things had been investigated and that’s all we were asking for," he said.

Why it matters: There has been no evidence widespread fraud took place in Georgia's elections last year and the November results were counted three times, once by hand.

Beijing Olympics: These countries have announced diplomatic boycotts

Photo: Zhang Qiang/VCG via Getty Images

Several countries, including Canada and Australia, have announced they will join the U.S. in a diplomatic boycott of the 2022 Beijing Winter Olympics to protest human rights abuses committed by China's government.

Driving the news: Leaders have faced pressure from human rights groups and others to boycott the Games, pointing to the ongoing genocide of Uyghurs and other Muslim minorities in China's Xinjiang region and other abuses.