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☆ The Great China Boom is going bust
▼ + stars: | 2023-10-15 | by ( Linette Lopez | ) www.businessinsider.com time to read: +18 min

Unless dramatic action is taken, the future of China's economy is looking less like a young dynamo and more like an old, slow-moving blob. AdvertisementAdvertisementChinese President Xi Jinping has shifted the country's priorities from economic growth to a "technology and national-security race with the US." A faltering Chinese economy will suppress demand for commodities like oil seeds and grain, hitting US farmers especially hard. For the US economy, China as a workshop is much more important than China as a consumer. Now that China's economic supercycle is over, that may be the cycle we're about to witness.

Persons: We've, Xi Jinping, Lee Miller, it's, Xi's, —, Xu Jiayin, Charlene Chu, Chu, Chu —, Victor Shih, Shih, that's, they're, Zhang, Beijing's largess, Miller, It's, they'll, Chinese Communist Party that's, Anne Stevenson, Yang, isn't, Stevenson, Linette Lopez Organizations: Chinese Communist Party, CCP, Trust, Autonomous Research, Bloomberg, Autonomous, Century China Center, University of California, J Capital Research, Japan, Nike, Starbucks, WSJ, China, Companies Locations: China, Beijing, Cities, Shanghai, It's, Shenyang, metropolises, Shenzhen, Europe, Wall, —, University of California San Diego, Middle Kingdom, Mexico, Vietnam, New York City

☆ It’s official: The era of China’s global dominance is over
▼ + stars: | 2023-10-15 | by ( Linette Lopez | ) www.businessinsider.com time to read: +19 min

We've reached the end of an era for the Chinese economy. Unless dramatic action is taken, the future of China's economy is looking less like a young dynamo and more like an old, slow-moving blob. A faltering Chinese economy will suppress demand for commodities like oil seeds and grain, hitting US farmers especially hard. For the US economy, China as a workshop is much more important than China as a consumer. Now that China's economic supercycle is over, that may be the cycle we're about to witness.

Persons: We've, Xi Jinping, Lee Miller, it's, Xi's, —, Xu Jiayin, Charlene Chu, Chu, Chu —, Victor Shih, Shih, that's, they're, Jinping, Zhang, Miller, It's, they'll, Chinese Communist Party that's, Anne Stevenson, Yang, isn't, Stevenson, Linette Lopez Organizations: Chinese Communist Party, CCP, Trust, Autonomous Research, Bloomberg, Autonomous, Century China Center, University of California, J Capital Research, Japan, Nike, Starbucks, Companies Locations: China, Beijing, Cities, Shanghai, It's, Shenyang, metropolises, Shenzhen, Europe, Wall, —, University of California San Diego, Middle Kingdom, Mexico, Vietnam, New York City, United States

☆ China is doing everything it can to conceal the true extent of its economic turmoil
▼ + stars: | 2023-08-29 | by ( Linette Lopez | ) www.businessinsider.com time to read: +13 min

China's economy is turning into a big black blob. This is happening because Xi's China is one that puts ideology before economic growth. Not because the reforms weren't working, but because the China they were creating is not the one Xi wants to see. Even as the main drivers of China's economy stumble, there will be no direct support to help households power through this fragile period. Known unknownsTransparency in China's economic data has always moved the same cycles as its politics.

Persons: —, Xi Jinping, it's, Charlene Chu, Xi, who've, It's, Chu, Fan Zhang, Zhang, Xie Huanchi, thegovernment, Victor Shih, Ministry of State Security —, isn't, Shih, Linette Lopez Organizations: Communist, Autonomous Research, Nike, Starbucks, CCP, National Bureau of Statistics, Custom, J Capital Research, Study Times, Getty, World Trade Organization, Century China Center, University of California, Communist Party, Ministry of State Security, Beijing Locations: China, COVID, Xinhua, University of California San Diego, Beijing

☆ China is erasing mention of Qin Gang's time as foreign minister, but it still hasn't said why
▼ + stars: | 2023-07-26 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +9 min

Hong Kong CNN —Five weeks ago, the world watched as China’s Foreign Minister Qin Gang met US Secretary of State Antony Blinken in Beijing for high stakes talks between the two powers. Qin’s whereabouts, the reason for his removal, and his ultimate fate as a member of China’s Communist Party all remain unknown. Unanswered questions about official decision-making are standard in China, where the political system is notoriously opaque and has only become more so under Chinese leader Xi Jinping. But it also suggests that the cause must be grave for (Qin) to be removed,” she added. ‘Safe hands’The Foreign Ministry shake-up comes at a particularly sensitive time in China’s international relations.

Persons: Qin Gang, Antony Blinken, –, Qin, Wang Yi, Wang, Xi Jinping ., they’ve, Xi, ”, Yun Sun, …, Neil Thomas, Bonnie Glaser, Marshall Fund’s, hashtags, Li Mingjiang, Blinken, “ I’ve, I’ve, ” Blinken, “, ” Wang, China’s, Vladimir Putin, Asia Society’s Thomas, Victor Shih Organizations: Hong Kong CNN —, China’s Foreign Ministry, China’s Communist Party, Xi Jinping . Senior, China Program, Communist Party, Politics, Asia Society, Center for, Foreign, Weibo, Singapore’s Nanyang Technological University, University of California San, Century China Center Locations: Hong Kong, Beijing, China, Washington, Center for China, United States, Europe, Russia, Ukraine, Jakarta, Moscow, Asia, University of California San Diego’s

☆ China's alarming decline could tank the stock market, take down the global economy, and spark a dangerous showdown with the US
▼ + stars: | 2022-10-30 | by ( Linette Lopez | ) www.businessinsider.com time to read: +14 min

In the Western capitals and boardrooms, it appears the horror of Beijing's transformation has finally settled in, and the lure of China's economic future is fading. Economic dangerIf you want a clue to just how far China's economy has fallen, look no further than Beijing's attempts to hide information about the country's growth. Beyond the short-term signs of trouble, there are more enduring signs pointing to China's economic distress. That's a big if, and even if Beijing is successful, the slow-moving blob of debt will choke off economic growth for years to come. Xi has tightened his grip on China's economy and government from education to public health.

Then, two men led Mr. Hu — who appeared reluctant to go — out of Beijing’s Great Hall of the People. Was Mr. Hu, 79, suffering from poor health, as Chinese state media would later report? When the aide finally succeeds in coaxing Mr. Hu from his chair, Mr. Li, the No. As the two aides begin guiding Mr. Hu away from his seat, the older leader stops to say something to Mr. Xi. The state broadcaster’s news program that night showed footage of Mr. Hu voting, and then his empty seat later in the ceremony, without explanation.

☆ China's Xi deals knockout blow to once-powerful Youth League faction
▼ + stars: | 2022-10-26 | by ( Martin Quin Pollard | ) www.reuters.com time to read: +5 min

BEIJING, Oct 26 (Reuters) - The three most glaring omissions from China's new Communist Party leadership share one common trait: all rose through its Youth League and were considered members of a once-powerful faction whose influence Xi Jinping has now effectively crushed. "On Hu Chunhua, I think this has been Xi Jinping's main tactic of shutting down the youth league faction," said Victor Shih, an expert on elite politics in China and a professor at the University of California, San Diego. "They are completely defeated," said Cheng Li, a specialist on the transformation of political leaders in China, referring to the sidelining of the Youth League faction. The Youth League has been active in attacking foreign brands accused of misbehaviour in China, such as false advertising. The Youth League did not immediately respond to a request for comment on Wednesday.

☆ Xi Jinping now 'more or less a dictator' of the country, China expert says
▼ + stars: | 2022-10-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailXi Jinping now 'more or less a dictator' of the country, China expert saysVictor Shih, Ho Miu Lam chair in China and Pacific relations at UCSD, discusses the China politburo's standing committee as President Xi Jinping fills it with loyal supporters.

☆ Hu's dramatic China congress exit fuels speculation, official silence
▼ + stars: | 2022-10-24 | by ( Martin Quin Pollard | ) www.reuters.com time to read: +4 min

During the once-in-five-years congress, Xi solidified his grip on power by appointing a Standing Committee made up entirely of loyalists - and excluding the three most senior members of Hu's once-powerful Communist Youth League faction. State TV's Saturday night news broadcasts included images of Hu at the congress, before his exit. Chinese politics, always opaque, have become even more secretive under Xi's decade-long tenure. "Despite the plausibility of a mundane explanation of ill-health, the CCP's secretiveness vis-à-vis senior Chinese leaders and elite Chinese politics lends itself to many more salacious explanations," he said. On China's Twitter-like Weibo, a few social media users alluded to the incident by commenting on old posts featuring Hu.

That loyal inner circle has not only strengthened Xi’s hold on power – but also tightened his grip over China’s future. In the eyes of Xi, China is closer than ever to achieving its dream of “national rejuvenation” and reclaiming its rightful place in the world. What he decides to do – and how he goes about doing it – will have a profound impact on the world. Under Xi, Beijing has ramped up military pressure on Taiwan, sending warplanes and conducting military drills near the island. Xi continues to back a costly zero-Covid policy that keeps borders heavily restricted and regularly sends its cities into lockdown – dragging down China’s economic growth.

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