Economist Podcasts: "Xi says: who will succeed him?"

The Intelligence from The Economist
Date: April 3, 2026
Hosts: Jason Palmer & Rosie Blore
Featured Guests: James Miles (Global China Writer), Guy Scriven (Global Business Writer), John Fasman (Senior Culture Correspondent)

Episode Overview

This episode explores three distinct segments:

1. The ongoing political reshuffle in China and the implications for post-Xi Jinping leadership.
2. Europe’s position in the global tech race, and whether it is finally catching up to the US and China.
3. A tribute to renowned French oenologist Michel Rolland, reflecting on his influential legacy in the world of wine.

Segment 1: China’s Leadership Shuffle & the Xi Succession Question

[02:09–10:48]

Main Theme:
The Chinese Communist Party is undergoing its routine five-year reshuffle, but unlike previous years, Xi Jinping's hold on power appears unshakeable, and the question of succession has become more uncertain than ever.

Key Discussion Points:

• Xi’s Disruption of Succession Norms

  • Xi abolished presidential term limits in 2018, removing established safeguards for leadership transition.

    “Xi Jinping ripped up the succession rules in 2018 when he revised them to allow himself to be president for life.”
    — James Miles (03:16)

  • No indication Xi is preparing a successor for 2032.

• How the Reshuffle Works

  • Up to hundreds of thousands of administrative posts are rotated, culminating in the 21st Party Congress.
  • Elections start at the village level, but these are noncompetitive and foregone; local Communist Party bosses prevail by design.

    “That’s a process that actually involves people casting a vote, but of course it's a sham.”
    — James Miles (03:57)

  • Xi has packed the Politburo with loyalists—“yes men”—leaving no room for alternative power bases.

• Absence of Grooming Young Successors

  • Traditionally, elevation to the Central Military Commission would herald the grooming of a successor, but Xi remains the lone civilian there.

    “A key indication of succession arrangements being made would be the placing into the Central Military Commission... that hasn't happened yet and is highly unlikely... before the next Congress in 2032.”
    — James Miles (06:43)

  • The Central Committee and regional bodies are also aging, creating a “new kind of gerontocracy.”

• Risks and Tensions in the System

  • Xi’s refusal to groom a successor avoids internal competition but risks elite infighting post-Xi.

    “You’re kind of damned if you do and damned if you don’t in China. Appoint a successor and things start getting tense... Don’t appoint a successor and the chance then of huge fighting once the leader has left... is enormous.”
    — James Miles (08:43)

  • Recent purges (about one-fifth of the Central Committee and about half of the Army’s top leaders) have contributed to enormous elite stress and uncertainty about the post-Xi future.

• Notable Quote:

  “The possibility for more unexpected things to happen in Chinese politics over the next five years is really quite considerable.”
  — James Miles (10:43)

Segment 2: Is Europe Closing the Tech Gap?

[12:39–20:44]

Main Theme:
Europe has traditionally lagged behind America and China in creating global tech giants. Recent shifts—including policy missteps elsewhere and homegrown ecosystem growth—are changing the outlook.

Key Discussion Points:

• Historic Tech Gap

  • Of the world’s top 100 tech firms: only six are European, compared with 56 American and 16 Chinese.

    “Europe is a laggard when it comes to creating tech giants.”
    — Guy Scriven (12:59)

• Barriers to European Tech Dominance

  • Fragmented markets—multiple languages, cultures, and legal systems—make scaling difficult.
  • Shallow capital markets limit rapid growth.

• What’s Changing?

  • External:
    • Policy missteps in the US (erosion of trust post-Trump) and China (overbearing state subsidies deterring private capital) are driving European firms and attracting global capital and talent.

    “The brain drain seems to have started to reverse itself... It's become easier to hire top American talent into Europe.”
    — Guy Scriven (14:43)

    • China’s heavy-handedness is driving venture capital away.
  • Internal:
    • Successful European founders (e.g., Spotify, Klarna, Revolut) reinvest as “angels,” spinning off new firms.

    “Former employees of Klarna have created something like 60 different startups... It gives people a hope that Europe could grasp this opportunity.”
    — Guy Scriven (16:40)

• Bright Spots & Opportunities

  • Europe is unlikely to catch up in headline areas (AI, for example, produced just 2 of the top 100 “frontier” models in 2025).
  • Strong developments in:
    • Climate tech: Venture investment rising—now half the US level.
    • Defense tech: Boost from surging defense budgets, emergence of drone and AI systems firms.
    • Deep tech: High scientific risk areas (fusion energy, quantum computing, etc.), with EU companies making substantive progress.

    “Deep tech... is a kind of business where the majority of the risk is scientific rather than in the business model.”
    — Guy Scriven (18:57)

• Memorable Moment:

  “There's plenty of investors I spoke to who've been investing in European tech for decades and they say that every few years there's a new European horizon in tech, so everything could fall apart.”
  — Guy Scriven (20:14)

Segment 3: Obituary — Michel Rolland, Master of Modern Wine

[20:56–26:08]

Main Theme:
A reflection on the life and transformative career of Michel Rolland, the globe-trotting French oenologist who modernized wine-making and courted both success and controversy.

Key Insights & Storylines:

• Humble Beginnings, Lasting Impact

  • Michel Roland was born into Bordeaux vineyards and spent childhood harvests on the family tractor.

    “There was no question of doing anything else, he once said.”
    — John Fasman (20:56)

  • Left family vineyards to study enology, later helping revive Bordeaux during the hard times of the 1970s and 80s.

• Techniques and Influence

  • Advocated for scientific advancements—harvesting grapes at full ripeness, emphasizing fieldwork over romantic ideas of terroir.
  • Became a sought-after consultant, notably in California and later worldwide.
  • His tastes, aligned with influential critic Robert Parker, favored ripe, lush, fruit-forward wines, influencing global style and sales.

• Controversy and Fame

  “Robert Parker... became equally renowned and reviled, began his career at around the same time. And the confluence of their tastes changed the wine industry.”
  — John Fasman (21:12)

  • Accused of homogenizing global wine by critics and traditionalists. Featured in the muckraking documentary Mondovino as a “flying winemaker.”
  • Not shy about deriding winemaking “nostalgia,” nor about the business realities:

    “‘If I say micro oxygenate, she micro oxygenates. If it doesn’t work, she fires me. ... Wine is done for what?’ he asked rhetorically. ‘The Pine Public. Wine is a business. They want to make wine to sell wine.’”
    — John Fasman (25:45)

  • Proud of his practical, market-oriented approach.

Notable Quotes by Segment

• James Miles on Xi Successor:

  “What we’re seeing gradually is the formation of a new kind of gerontocracy in China with Xi Jinping at the head...” (07:45)

• Guy Scriven on the European Tech Scene:

  “In Europe, it’s a reasonably new thing that’s happening... it gives people a hope that Europe could grasp this opportunity in terms of becoming a tech power.” (16:40)

• John Fasman quoting Michel Rolland:

  “If she understood everything, she wouldn’t need me. If I say micro oxygenate, she micro oxygenates. If it doesn’t work, she fires me.” (23:30)

Timestamps for Key Segments

• China Leadership and Xi’s Succession: 02:09–10:48
• Europe’s Tech Landscape: 12:39–20:44
• Michel Rolland Obituary: 20:56–26:08

Episode Tone & Takeaways

• Analytical, crisp, and laced with nuanced skepticism—consistent with The Economist’s signature style.
• Offers well-grounded reasons for concern over China's opaque political trajectory, cautious optimism for Europe's tech future, and a clear-eyed, unsentimental celebration of Rolland’s wine legacy.

This summary is designed to give a listener the full substance and flavor of the episode’s key discussions and notable moments—without the need to sit through adverts, intros, or outros.