Xi's hard speech; Mixed signals before the reform celebration; PRC ambassador to Canada admits to hostage-taking

Kudos to those who stayed up to watch Xi's speech at the event celebrating the 40th anniversary of China's reform and opening-up. I confess I waited until this morning to read it and watch excerpts. 

There is no question the PRC and the Party have much to celebrate given the remarkable progress since 1978.

Xi's speech read to me like a clear extension of the 19th Party Congress report. According to Xi China is absolutely on the correct road, the Party needs to lead everything, and China is returning to its rightful place in the world with a better vision for global governance than the current approach.

Of course the primary audience for this speech is domestic, but the Chinese stock markets did not like it and from what I can tell so far it did not go over particularly well with business and intellectual elite.

If I were sitting in the Trump Administration I would not see this speech as sending positive signals about Xi's willingness to make some of the structural changes and concessions…