Beijing tongues are wagging amid chatter Xi Jinping may stay a while. The most extreme rumor has the president plotting to extend the typical 10-year term. The less tantalizing one has him delaying naming a successor in 2017, one who'd wait in the wings for the last five years of Xi's tenure.

The first option would be a mistake, veering into emperor-reign territory. The second is worth exploring.

Two five-year terms has been the norm since the early 1990s, with the heir apparent clearly designated by the start of the second. Naming a successor so far in advance can make the Communist Party leader somewhat of a lame duck. Look no further than the lost years of Xi's predecessor, Hu Jintao. With princeling Xi consolidating power behind the scenes and deciding who will rise and fall, Beijing was gripped by gridlock.