China reported a 6.8% year-on-year contraction of GDP for the first quarter on 17 April. Though the number marks the worst quarterly performance since the current data series began in 1992, the weak figure was widely expected, given the near-total shutdown of the economy from late January through early March.… Read the rest
Tag: Xi Jinping
● China is employing harsh measures to combat a rise in imported Covid-19 infections, which now outnumber local transmissions.
● Diplomats from African countries have issued formal complaints about racist treatment of nationals of African countries in China, but African leaders will ultimately be reluctant to antagonize Beijing.… Read the rest
● Following a presidential phone call, US and Chinese officials have stopped openly attacking the other side and sought to increase cooperation to combat the virus.
● But the continued proliferation of anti-US and other anti-Western misinformation on the Chinese internet risks shattering this truce.… Read the rest
● The Communist Party has shifted public attention away from early failures in Wuhan towards subsequent success in controlling the epidemic.
● Public cynicism towards the government co-exists alongside respect for its technocratic competence and ability to mobilize people and resources.… Read the rest
● In contrast to the 2008 financial crisis, China’s stimulus response has been less forceful than in the US and Europe.
● Initial March data show that the return to normal economic activity has been slow, while secondary outbreaks may require selected regions to re-impose lockdown.… Read the rest
● New cases outside Hubei province have declined for 14 consecutive days suggesting that a turning point is near.
● President Xi Jinping and Premier Li Keqiang appear increasingly willing to stake their personal credibility on the success of virus containment measures.… Read the rest
● The coronavirus epidemic poses no immediate challenge to Xi Jinping’s political standing.
● But if the crisis worsens, Xi’s enemies may use it as an opening to challenge his bid for a third term in 2022.… Read the rest
● Governance modernization and institutional reform are key priorities for the Communist Party.
● A new generation of city mayors is tasked with breaking up local patronage networks.
● Financial technocrats have been appointed as provincial leaders to deal with local debt problem.… Read the rest