B. Corruption. Xi's crackdown on official corruption is serious and having an effect. Of course there are political reasons and scores to settle, but the crackdown has changed behavior. It has not however addressed the corruption that is pervasive in Chinese society, and it is hard though to see how that can be changed materially in the midst of increasing restriction on public discourse and transparency;
C. Ideological retrenchment. No, Xi is not a "neo-Maoist", but he is a pragmatic Marxist and there is a broader tightening of discourse and more aggressive rejection of "Western" values and Neo-liberalism than we have seen in a while. But most people here do not believe in Marxism and a Marxist morality campaign will not work. So the real glue is nationalism, and that has only grown stronger, intentionally, over the years;
D. Growing anti-foreign, and especially anti-American, sentiment as more and more people are told, and start to believe, that the West is trying to keep China down and prevent its rejuvenation. Tensions from an economic slowdown, economic reform/restructuring and/or the corruption crackdown and its political re-ordering could lead to even more external friction than would normally be expected with a rising power. Geoff Dyer's new book "The Contest of the Century: The New Era of Competition with China" is worth reading."
去年中国的GDP增长下降到7.7%,是1999年以来最低的水平。
近来我们在资讯标题中看到的最大问题包括对影子银行、不断上升的地方政府债务以及信托基金违约的担忧。
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