The Irish Times:
Dragonomics economist Arthur Kroeber said the 11 per cent plunge on the stock markets in the early days of the year certainly gave the impression that the Chinese economy was in serious trouble and the lack of clear direction in President Xi Jinping’s economic reforms was problematic.
“Today China is a country without a clear economic direction, and this shows up in a steadily slowing rate of private investment. The fault for this lies squarely with Xi. We have no idea whether Xi understands what modern markets require, or how he hopes to reconcile their demands with the Leninist-Confucianist paternalism he is busy imposing on the rest of society. China is unlikely to collapse, but it does risk losing its way,” said Kroeber.
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