The ripple effect of China's new leadership on Canada Members of China's People's Liberation Army (PLA) walk past the Tiananmen Gate in Beijing, China, on Monday, Nov. 12, 2012. China's Communist Party kicked off a congress in Beijing to choose its fifth generation of leaders since taking power in 1949, a decision that will shape the nation's economic and financial policies for the next decade. Photographer: Tomohiro Ohsumi/Bloomberg OTTAWA -- While many Canadians watched the U.S. presidential election with rapt attention last week, an equally important leadership shuffle is about to happen in China. And though there will be few surprises at the top when the Asian power's new leaders are revealed later this week, the shake-up will have far-reaching implications, including in Canada. Economic Reform A decade of rampant economic growth has turned China into one of the world's emerging political, economic, military and cultural powers. But with newfound prosperity have come problems. These include growing inequality between the rich and poor, corruption at all levels of society, and anger over a lack of services like health care. This has resulted in an unprecedented number of protests and other public criticisms, with some worrying the situation is like a powder keg waiting to explode. "China's development in the years ahead, whether it's a reformist path or one that is more traditional, will affect the world very profoundly, and Canada will be impacted as well," said Yuen Pau Woo, president of the Asia Pacific Foundation of Canada. Analysts say the