Xi Jinping arrives at COP21, November 30, 2015. Photo courtesy of COP Paris.
In the Manhattan Contrarian, Francis Menton examines the performance of the Chinese economy, and comes to the conclusion that the regime of Chinese President Xi Jinping “is doing pretty much everything wrong.” He writes:
If you follow developments out of China at all, you have likely noticed a spate of bad news recently. For years, even decades, it seemed that China could do no wrong in its growth toward becoming a major world power: China reported economic growth of 10% and up every year; it was becoming the hub of manufacturing for the entire world; and as its economy grew, its clout on the world stage increased rapidly. Pundits on the left (and occasionally on the right as well), often with overt admiration for the Chinese model of authoritarian state-directed crony capitalism, widely predicted that China would supplant the U.S. as the world’s leading power some time not too far into the 21st century.
Suddenly that’s looking much less likely. What happened? The fault lines have been there for a long time, but well-concealed by a regime with tight control over information flow, let alone by a Western press with a deep hatred of the West and not hiding its cheerleading for success of the Chinese model. In the last few months, as conditions have deteriorated, the regime has lost a big piece of its ability to keep the lid on.
Here’s my two cents: If the goal is long-term success for the country and the people, the Xi regime is doing pretty much everything wrong.
Read more here.
If you’re willing to fight for Main Street America, click here to sign up for the Richardcyoung.com free weekly email.
