https://www.yahoo.com/news/xi-moving-china-economic-system-171146880.html "It's a strategy that involves much more aggressive state interference in what could someday be the world's largest economy. That marks a change from the past forty years, during which China's leaders have allowed more room for market forces to operate, spurring the growth of the private sector. The Wall street journal notes that Xi isn't trying to completely eradicate market forces (for instance, he reportedly wants to allow small-to-mid-size private business to continue to develop), but he wants the Chinese Communist Party to "steer flows of money" and curb the ability of entrepreneurs and investors to make profits to an even greater extent than it already does."
On the one hand, it's bad for Chinese people that Xi is eliminating domestic rivals for power (and attention). On the other, it's good for people everywhere else in the world since this will curtail China's economic expansion and thus weaken the Xi regime's ability to project power abroad.
Agree. Although, I still have the concerns that this may signal that Xi is a true believer... and that can be a dangerously chaotic factor....
Xi IS a True Believer insofar as it allows him to consolidate his absolute, lifetime power. I'd be surprised to learn that the man has any ideology beyond "What's Good For Jinping". Anyway, he is killing Chinese capitalism by destroying what was always an iffy proposition; that's there's such a thing as a "right to property" in China. There isn't. There never has been. Western investors in the Middle Kingdom allowed their greed to blind them to an obvious truth which is that investing in China is risky far beyond the usual business risk. Now, they're finding out. Boo hoo.
