President Xi Jinping observed the 40th anniversary of China's shift from doctrinaire communism to quasi-capitalist totalitarianism by delivering a televised speech last month in unyielding authoritarian language. Yet his forceful posturing couldn't hide his concern. America's main economic rival is under real pressure to give up many of the mercantilist policies it has relied on for decades to prop up growth.
Like his predecessors, Mr. Xi insists that China's Communist Party has been "totally correct" over the past 40 years. "No one is in the position to dictate to the Chinese people what should and should not be done," he declared. He praised Marxist-Leninist principles and quoted Friedrich Engels as he envisioned China's socialist path through the 21st century.
This bluster is typical for a regime deeply concerned about appearing weak. President Trump's trade policies have put heavy pressure on the sore spots of China's economy.
