Wednesday 26 August 2015

The stockmarket's collapse kicks up political fallout for Xi Jinping

Otmane El Rhazi from China.

THE stockmarket rout, together with the devaluation of the currency and a mishandled disaster in Tianjin, comes at a time when the government of Xi Jinping was already under pressure for other reasons. China’s economic woes will increase the political strains upon the president.

On August 19th the website of CCTV, the state-run television system, carried an article signed by “Guoping” which claims that “the scale of the difficulties [in implementing reform], the extent of opposition, the stubbornness, ferocity, complexity and even weirdness of those who haven’t adapted to reform or even oppose it go far beyond what most people imagine.” This unusual language enjoyed the government’s stamp of approval. Guoping is a pseudonym that has been used for articles that are widely thought to reflect the president’s political views. According to the government’s website, it is the nom de plume of a group of the state-run media’s top commentators and propagandists.

The so-called opposition, as described in the article, may be exaggerated for effect. But the difficulties and dissent are real. Senior government and party...Continue reading

No comments:

Post a Comment