From WSJopinion: Xi Jinping wants to raise living standards while limiting the 'barbaric growth of capital.' Good luck, writes josephsternberg.
Xi Jinping wants you to know he’s got China’s economy under control—a point he re-emphasized last week when the Communist Party released its top-level economic strategy for next year. But does he really? Funny you should ask.
China’s economy has reached a perilous phase. Data for November, released this week, show investment and consumption slowing. New home prices are gliding downward, and property investment is letting up. The one bright spot, an uptick in industrial production, isn’t all that bright. Its 3.
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