Historians of the future may well look back on President Xi Jinping's July 1 speech celebrating the 100th anniversary of the founding of the Communist Party of China as marking the axial transition between China's two centenary goals: the first, building a "moderately prosperous society," achieved now on the Party's centennial, and the second, building a "great modern socialist nation in all respects," intended by New China's centennial in 2049.

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