Xi Jinping Doesn’t Know What to Do After Popping a Real-Estate Bubble
He wants to raise living standards while limiting the ‘barbaric growth of capital.’ Good luck.
The long-term aim of Mr. Xi’s demolition effort is to pivot the economy away from an overreliance on housing and infrastructure investment and toward a greater emphasis on domestic consumption.
The problem has always been what economic model would come next and how the Communist Party would manage an inevitably messy transition.
WSJ 16 December 2021
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