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China’s Xi calls for patience as Communist Party tries to reverse economic slump

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( ) -q-29- UNDATED (Correspondent Jeremy House) “and food supplies.”

Chinese leader Xi Jinping has called for patience in a speech as the ruling Communist Party tries to reverse a deepening economic slump.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Xi’s speech was published by Qiushi, the party’s top theoretical journal, after data showed consumer and factory activity weakened further in July despite official promises to support struggling entrepreneurs. Xi said the West’s pursuit of material wealth led to “spiritual poverty.” He called for China to “build a socialist ideology with strong cohesion” and to focus on long-term goals of improving education, health care and food supplies.

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