Put differently, over the longer run, Beijing can only avoid a sharp rise in unemployment or stagnant wage growth to the extent that it has managed to achieve significant wealth transfers.
Isn't this exactly what the Communist Party or socialism (fake capitalism) with Chinese characteristics is supposed to have retained the option to do?
To be more specific, a charitable interpretation of affairs is that Xi or whoever is engineering Xi's policies has made sharp left turn, and is taking authoritarian measures to carry out exactly this.
Isn't this exactly what the Communist Party or socialism (fake capitalism) with Chinese characteristics is supposed to have retained the option to do?
To be more specific, a charitable interpretation of affairs is that Xi or whoever is engineering Xi's policies has made sharp left turn, and is taking authoritarian measures to carry out exactly this.