Key Points
It signals that a slow-growth future may be dawning..
Michael Pettis, a professor of finance at Peking University, argues that one way forward for China is to reduce the nonproductive investment in fixed assets, which allowed Beijing to boost growth numbers..
The Chinese economy may need a liberal turn, but Xis mind is now set on a new type of security-driven development model that can ensure the long-term legitimacy of the CCP...
Yet, Xis ideological imprint and personal power, bolstered by the wholesale replacement by loyalists of the partys technocratic elite, make pedestrian economic growth and financial instability that much more likely, wrote George Magnus, a researchassociate at Oxford Universitys China Centre, in a paper titled The Economic Consequences of Xi Jinping...
The economic doldrums China faces today are as much a test of financial fundamentals as the political ideology that underpins Chinese society...
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