China’s Communist Party has launched an exciting campaign in the US. Amid all the news of the silent tennis star, the #MeToo riot, the billions missing and the Uyghur concentration camps, Americans are beginning to hear of Beijing’s efforts to reduce inequality and create a healthier and more sustainable economy. China cha Common prosperity The message has been filtered through a number of television programs such as 60 Minutes on CBS and national newspapers.
And while there are valid doubts as to whether a ruling government with a well-known history of civil liberties, a history of greater credit and a ruling party with its own interests in the old system can establish good principles, there are still important lessons for America. it should take from China’s efforts to do so – in particular, looking at quality in terms of growth.
Over the past few years, this has affected banking reforms, restructuring local government debt, anti-monopoly measures against Big Tech and, more recently, experimentation destroying the boiling of the house. The giant with the problem of China Evergrande could melt away and take away the whole segment, but I have to admire Beijing for doing exactly what the US did not do in preparing for the subprime crisis, recognizing the companies with the problem. before the accident, I try to get air out of it before it collapses all the property.
Debt settlement and debt reduction have greatly reduced growth. That is not a bad thing at all. In a recent study, Chinese investor and analyst William Callanan, co-founder of the Syzygy Investment Advisory, said the experiments represent a kind of “deregulation” as part of a shift from quantity to quantity (higher pay and more focus on stability.). While there has been an increase in funding before the 20th Congress of China comes in the fall, this is not, as TS Lombard put it, “China’s old-fashioned incentive”, but a system of “building better progress” that looks more focused. areas such as energy efficiency, smart construction, and digital economy.
It’s all part of global efforts to create a “dual circulation” economy based on self-reliance and “new innovations”, with the aim of raising productivity and wages in fast-growing industries. While some see this as the Chinese nation that disrupted the US, I would say it is the way that makes sense in Beijing. The world’s second-largest economy needs to focus on how to create a new economic system that prepares for their future.
Aligning local productivity with rising local demand is understandable for a variety of reasons, from geopolitical to environmental. It creates stable and unnecessary chains, and allows manufacturers to quickly move economic trends, e.g. a large research team showed.
China really learned this genre production often and industrial policy from the US. It is interesting to note that the most successful companies in America, such as Tesla (which is close to regulating its operations), have not left the brand. More will follow; A recent McKinsey study involving global operations managers found that about 90 percent expected significant fragmentation and the spread of future production.
The last lesson the United States can learn from China’s success is the need to hold business leaders accountable for their actions. Clearly, the independent world is doing very well here to be tempted to go further – throwing even the most corrupt business leaders in the gulag without guilt, that is, the worst of human rights and business confidence. Washington has another hurdle that, unlike Beijing, would not require Big Tech to pay its share of taxes; must establish the necessary rules for this.
But sending law-abiding officers to prison after a fair trial, and monitoring the number of companies before the crisis is a good thing, is a good thing. China has recently taken steps to develop safer investment systems and security regulations. In November, Kangmei Pharmaceutical, a former drug dealer in China, was found guilty of fraud and had to pay $ 387m to depositors. Chairman Ma Xingtian and his wife, along with four former officials, were charged with felony criminal mischief, and Ma was also arrested.
If only all American officials were to receive the same treatment in the midst of the financial crisis and corporate scandals in recent years. This has been one of the biggest issues that many people have left to the left and right in recent years – that “no one went to jail”. It could be that relying on high-level political and business people then a major future crisis for the US and China.
Obviously, democratic regimes have open court systems and free media to ensure that they do so. Politicians remain accountable to voters, even if they are different. China, meanwhile, has paved the way for President Xi Jinping, who is widely regarded as the next Mao, to become a lifelong leader. Beijing’s “ordinary development” effort has its advantages. But it does not hide the fact that in China, the Communist Party is still at a serious market risk.
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