Chinese Premier, the second highest office in China, will step down after taking the blame for China’s slowing economy and failed growth policies.

Analyst Comment: China is in the midst of severe economic turmoil including a collapsing real estate market and massive wealth inequality. President Xi’s leadership has been questioned due to the failure of his economic policies. This is an attempt for Xi to push the blame on his number two while attempting to remain in power. We will see if gambit works and Xi remains in power in the November elections.