Xi Jinping has steered the country’s economy straight into the traps he identified himself five years ago.
Welders at a factory in Mengcheng, Anhui, China. Credit: IC Photo via Depositphotos
Xi Jinping is a prophet.
Five years ago, the Chinese president warned in a lecture to regional officials that “blockages in economic circulation” would cause a host of maladies: sluggish growth, rising unemployment, industrial overcapacity, shrinking corporate profit margins and falling household incomes.
An excerpt from a speech by Xi at a seminar for provincial and ministerial cadres, January 11, 2021. Credit: Qiushi
His foresight was uncanny. In the years since, each
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