What’s behind China’s moves against Alibaba, Tencent and Didi, as well as the Evergrande turmoil? Xi Jinping is trying to roll back a decadeslong evolution toward Western-style capitalism.
Going beyond curbing tech giants, he wants the Communist Party to steer flows of money and set tighter limits on profit making China’s President Xi Jinping vowed to “follow our own path” in a speech to the nation celebrating the ruling Communist Party’s centenary.
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