I am starting to admire this. The rebooted Chinese determination to force structural reform onto its economy is precisely the same as that needed in the “capitalist west”. It’s all about ending property capital misallocation and restoring productivity growth as the prime income driver. And it is NOT over.
First up, the grand political narrative that defends against rentier pushback is taking shape:
A commentary published widely in Chinese state-run media described President Xi Jinping’s regulatory crackdown as a “profound revolution” sweeping the country and warned that anyone who resisted would face punishment.
