Beijing’s “industrial policy” — pervasive government entanglement with private sector enterprises — is a road to private sector serfdom.
— Beijing released no data about youth unemployment in July, thereby fueling speculation about how much worse it now is.of government planning leavened and disciplined by market forces. This suggests more orderliness than actually exists. Market forces are casually disregarded by the CCP’s innumerable tentacles. China’s “industrial policy” — pervasive government entanglement with private-sector enterprises — is a road to private-sector serfdom.
Under the Leninist brutality of dictator Xi Jinping’s “zero-covid” policy, a single covid-19 case could cause the lockdown of a city of millions, with devastating economic consequences. But most devastating is Leninist economic normality in a party-state.“If spending is weak because households and entrepreneurs fear the party’s intrusive policymaking, their spirits will not revive until Mr. Xi commits to self-restraint — a commitment that he cannot credibly make. ...
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