Breaking with a decades-long precedent, China’s President Xi Jinping has confirmed that he will remain in power for at least another five years.

This means that he could, in theory, make himself leader for life.

This news comes after Xi has already ruled China for 10 years. During his time in power, he has overseen the country’s transformation into an economic powerhouse, while also increasing its military might. However, he has also been accused of consolidating power and cracking down on dissent.

What does this mean for China? And what could the implications be for the rest of the world? Let’s take a closer look.

What this means for China

Xi’s confirmation that he will remain in power essentially means that China is moving away from the collective leadership model that has been in place since the days of Mao Zedong. Under this model, Chinese leaders have been typically limited to two five-year terms in order to prevent them from amassing too much power.

By removing this limit, Xi is effectively able to stay in power for as long as he likes.

This move is widely seen as an effort by Xi to further consolidate his power and cement his legacy. And it’s a move that is likely to maintain stability in China, at least in the short-term.

After all, Xi is widely popular among the Chinese people and is seen as someone who has brought economic prosperity and increased international clout to the country.

However, there are also those who worry that this move could lead to greater authoritarianism and a less stable China in the long run. Only time will tell how this plays out.

What this means for the rest of the world

China is currently the world’s second-largest economy and is projected to overtake the United States as the largest within a decade. It also has a significant military presence and is increasingly asserting itself on the global stage. So whatever happens within China definitely has implications for the rest of us.

Some experts believe that Xie’s consolidation of power could lead to greater external assertiveness from China.

We could see China become more aggressive in territorial disputes, such as those involving the South China Sea; we might see the country take a more protectionist approach to trade, or we could witness a more forceful projection of Chinese soft power through things like its Belt and Road Initiative.

On the other hand, others believe that Xi’s continued rule could lead to greater stability both within and without China, as predictability is often seen as a good thing in international relations.

President Xi Jinping’s confirmation that he will remain in power for at least another five years comes as a surprise to many, as it breaks with a decades-long precedent limiting the terms of Chinese leaders. What does this mean for China? And what could the implications be for the rest of us? Only time will tell.