Tuesday, August 14, 2018

Emperor Xi and his troubles

While it is important to keep a close eye as China grows stronger and flexes her insecure muscles, one should also recognize that there are significant structural issues that will not be easy to overcome, if ever;
Having concentrated power, Xi is responsible for all policy setbacks and policy failures,” said Joseph Cheng, a retired City University of Hong Kong professor and long-time observer of Chinese politics.

Notably, Xi used to dominate state-run newspapers’ front pages and the state broadcaster CCTV’s news bulletins on a daily basis but has in recent weeks made fewer public appearances. “He can’t shift the blame, so he’s responding by taking a lower profile,” Cheng said.
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Both the stock market and the currency have weakened in response and the Communist Party itself conceded at a meeting last month that external factors were weighing heavily on economic growth.

At the same time, a scandal over vaccines has reignited long-held fears over the integrity of the health care industry and the government’s ability to police the sprawling firms that dominate the economy.

“Trust is the most important thing and a loss of public confidence in the government could be devastating,” said Zhang Ming, a retired professor of political science in Beijing.

And last week, the authorities mobilized a massive security effort to squelch a planned protest in Beijing over the sudden collapse of hundreds of peer-to-peer borrowing schemes that underscore the government’s inability to reform the finance system to cater to small investors.
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Meanwhile, Xi’s signature project, the trillion-dollar “Belt and Road” initiative to build investment and infrastructure links with 65 nations, is running into headwinds over sticker shock among the countries involved. Some Chinese have also questioned the wisdom of sending vast sums abroad at a time when millions of Chinese remain mired in poverty.
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Resentment lingers also over Xi’s moves to consolidate power, including pushing through the removal of presidential term limits in March and establishing a burgeoning cult of personality.
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Much of the discontent with Xi can be traced to his administration’s perceived ineffectiveness, said Zhang, the retired academic.

“If you want to be emperor, you must have great achievements,” Zhang said. “He hasn’t had any, so it’s hard to convince the people.”
The readers of CDRSalamander know their history well. So Front Porch, autocratic leaders throughout history have usually looked to what as a quick way to achieve something considered a boost to national greatness?

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