From WSJopinion: Beijing’s obsession with national security puts key economic sectors, including finance, firmly within the state’s purview, write denniswhkwok and johnny_HKWatch
Yet China’s increasingly unstable business environment looks likely to leave these financiers looking foolish or reckless. Beijing’s crackdown on private businesses has wiped out hundreds of billions of dollars in market value in the past two months. Under the policies of “advancement of the state, and retreat of private enterprises” and “
,” the state’s tightening of control will increase. Beijing’s obsession with national security puts key economic sectors, including finance, firmly within the state’s purview.
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