Former Chinese Premier Zhu Rongji dies at age 97, leaving a legacy of pragmatic economic reform and global trade integration.
Former Chinese Premier Zhu Rongji died at the age of 97, marking the end of a career defined by pragmatic, hard-edged economic reforms. Serving as premier from 1998 to 2003, Zhu Rongji spearheaded China's entry into the World Trade Organization and transitioned the nation into a manufacturing powerhouse. He was known for his independent thinking and for implementing significant structural changes, including privatizing failing state firms and tightening tax and banking systems. While his reforms delivered double-digit growth and stabilized the economy, they also resulted in 30 million layoffs over a five-year period, leading to a mixed legacy of rapid modernization and increased inequality. The administration of the ruling Communist Party honored his death with a formal cremation in Beijing, where President Xi Jinping and the Politburo Standing Committee paid their respects. Despite some criticism from those affected by the layoffs, many citizens recalled him as a tough, no-nonsense leader who helped move China from a Communist outsider to a global economic player.