I think Pettis makes the case that Beijing is subject to institutional capture to some extent and that Xi is utilizing political authoritarianism to pursue certain “liberal” or “progressive” economic/financial reforms. A move towards stability and away from growth may be the goal of Xis political consolidations…
I think Pettis makes the case that Beijing is subject to institutional capture to some extent and that Xi is utilizing political authoritarianism to pursue certain “liberal” or “progressive” economic/financial reforms. A move towards stability and away from growth may be the goal of Xis political consolidations rather than a byproduct.
Example: Xi fired a bunch of technocrats and brought in party apparatchiks to drive financial reform at the local level. Rather than a boorish power grab, this move reflected the fact that the necessary reforms had become obvious and the lack of political power was the main obstacle.
#1 Michael Pettis fan here:
I think Pettis makes the case that Beijing is subject to institutional capture to some extent and that Xi is utilizing political authoritarianism to pursue certain “liberal” or “progressive” economic/financial reforms. A move towards stability and away from growth may be the goal of Xis political consolidations rather than a byproduct.
Example: Xi fired a bunch of technocrats and brought in party apparatchiks to drive financial reform at the local level. Rather than a boorish power grab, this move reflected the fact that the necessary reforms had become obvious and the lack of political power was the main obstacle.