(http://msnbcmedia.msn.com/j/MSNBC/Components/Photo/_new/121107-chinaCongress-554p.photoblog600.jpg)Ng Han Guan / APChinese President Hu Jintao, left, addresses the opening session of the 18th Communist Party Congress held at the Great Hall of the People in Beijing, China on Thursday.By NBC's Eric BaculinaoBEIJING — While Americans celebrate the power of the ballot with the re-election of President Barack Obama, China's ruling Communist Party on Thursday launched a tightly orchestrated gathering in Beijing for a transition of power to a new generation of leaders amid tough challenges.
Follow @NBCNewsWorld (http://twitter.com/NBCNewsWorld)To the applause of some 2,000 party officials from across the country, outgoing Party leader President Hu Jintao, 70, reaffirmed in a lengthy speech the party's right to govern, with a ringing endorsement of the achievements during his 10 years in office.
In that span of time, China's economy quadrupled in size, leapfrogging to No. 2 from No. 5 in global economic ranking, and amassing the strategic global clout that the country wields today.
NBCNews