Comment on China’s Economic Pain Is a Test for Xi Jinping

China’s Economic Pain Is a Test for Xi Jinping

“In Xi Jinping’s strategy for securing China’s rise, the Communist Party keeps a firm grip on the economy, steering it out of an old era dependent on real estate and smokestack industries to a new one driven by innovation and consumer spending,” the New York Times reports. “But he may have to relinquish some of that control, as that strategy comes under pressure.” “Consumers are gloomy.

 

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