Reorienting economy to consumption has been the bain of china's existence, but nothing can happen until there is a tax reform and hukou restrictions are lifted. But that, as Stewart has correctly pointed out, goes against the notion of control that the Party is freaking out about.
May 13, 2022·edited May 13, 2022Liked by Sam Olsen
The concerning thing is that the CCP have pegged their perceived legitimacy on economic growth. As has happened with autocratic regimes in the past when they sense they're coming over the crest, is that the ruling regime shifts its legitimacy focus, often towards militarisation and aggression - nothing like a war to unite your population in hard times. Not saying that'll definitely happen, its just a growing and alarming risk.
I look forward to hearing the next episode. Sorry for the multiple comments (now deleted), seems my browser had an issue.
Wonderful commentary - we’ll done Sam. Suggest you have another look at your logo though!
Reorienting economy to consumption has been the bain of china's existence, but nothing can happen until there is a tax reform and hukou restrictions are lifted. But that, as Stewart has correctly pointed out, goes against the notion of control that the Party is freaking out about.
The concerning thing is that the CCP have pegged their perceived legitimacy on economic growth. As has happened with autocratic regimes in the past when they sense they're coming over the crest, is that the ruling regime shifts its legitimacy focus, often towards militarisation and aggression - nothing like a war to unite your population in hard times. Not saying that'll definitely happen, its just a growing and alarming risk.
I look forward to hearing the next episode. Sorry for the multiple comments (now deleted), seems my browser had an issue.
Great idea in turning the newsletter to a podcast. Very informative and please keep up the great work!