President Xi Jinping is shaking out China lately.
From cracking down on China’s tech sector, destroying the tuition industry, squeezing the property bubble, erasing celebrities to lambasting effeminate culture and so on.
There are two ways to interpret his actions:
Power consolidation?
The cynical way is to look at it from the prism of power consolidation and demolition of all political opposition to CPC.
Critics from the investor class will bemoan how ‘uninvestable’ China is. Entrepreneurs will feel the chill over the future of innovation in China. Civil libertarians will see it as an assault on liberty. Political scientists will see it as a return of power concentration and personality cult, with echoes of Hitler, Stalin and Kim Il Sung.
Since there is no shortage of this point of view in mainstream media, I will not say more from this perspective. But in this article, I will offer an alternative interpretation…
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