From WSJopinion: President Xi Jinping is executing an economic pivot to the party and the state based on three driving forces: ideology, demographics and decoupling, writes MrKRudd
He’s wagering it will help him achieve his goal of a record third term as paramount leader.
Sept. 19, 2021 4:18 pm ETSomething is happening in China that the West doesn’t understand. In recent months Beijing killed the country’s $120 billion private tutoring sector and slapped hefty fines on tech firms Tencent and Alibaba. Chinese executives have been summoned to the capitol to “self-rectify their misconduct” and billionaires have begun donating to charitable causes in what President Xi Jinping calls “tertiary income redistribution.” China’s top six technology stocks have lost more than $1.1 trillion in value in the past six months as investors scramble to figure out what is going on.
Why would China, which has engaged in fierce economic competition with the West in recent years, suddenly turn on its own like this? While many in the U.S. and Europe may see this as a bewildering series of events, there is a common “red thread” linking all of it. Mr. Xi is executing an economic pivot to the party and the state based on three driving forces: ideology, demographics and decoupling.Read more: The Wall Street Journal »
opinion MrKRudd Taking Kevin's advice on China is like getting an plumber to do your accounting; can talk lots of shit but at the end of the day nothing adds up. However, Kevin does make $1 million a year by not upsetting the CCP and that should be disclosed before reading this. opinion MrKRudd Its the result that counts. China's reform program continue under Xi: 1. 800M out of poverty. 2. GDP gain fastest in the world. 3. Level of happiness highest in the world 4. Highest level trust to Govt
opinion MrKRudd Good read
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