I hope everyone is enjoying the Holidays, apologies for less frequency than promised over these two weeks. I will make it up to you. I am working on a yearend look at the top trends in China, clearly Xi’s consolidation of power is one of the most important ones. But I think the return of the Party, captured in Xi’s statement “Government, military, society and schools, north, south, east and west, the Party is the leader of everything “党政军民学，东西南北中，党是领导一切的”, is the most important trend driving China internally and externally. More to come as I think it through, comments of course welcome.