Even Xi Jinping Admits China Has A Painful Road Ahead Despite His New Stimulus

Chinese leader Xi Jinping urged China to "prepare for rainy days" ahead, even after his government announced a stimulus that set off a market rally last week.ADEK BERRY/AFP via Getty ImagesAmid hopes that China's economy is roaring to life again, even Xi Jinping is looking cautious.In his first major speech since the stimulus, Xi warned of "storms" ahead and the need to prepare for "rainy days."While he portrayed China as resolute, Xi also tempered the idea that the country was on a sure road to victory.China's surprise stimulus triggered a massive rally in its equities last week, but even its leader, Xi Jinping, isn't celebrating yet.In his first remarks about the nation's condition since the stimulus announcement, Xi warned of "violent storms" ahead and urged China to prepare for hardship while portraying it as determined to succeed."The path forward will not be smooth," he said in a speech on Monday in Beijing.

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