Mind The Gap | Xi’s congress speech offered few clear signs and clues to political or economic reforms
Foreign businesses hoping for a level playing field in China were left disappointed with lack of commitment to market reform and fair access to Chinese markets
“Without deviation from the norm, progress is not possible, ” said Frank Zappa. The American rock activist’s work was characterised by nonconformity and free-form improvisation.
His thought can just as easily apply to the Chinese President Xi Jinping’s contrarian, ambitious and some suggest authoritarian vision that he laid out at the Communist Party’s 19th congress last week.
But, it is only contrarian to foreign observers.
“Socialism with Chinese characteristics” necessarily means a pragmatic and selective rejection of Western values. It increases the dominance of a command economy, but it will worsen the obstacles that foreign firms continue to face in China.
Trying to analyse Xi’s congress speech is like trying to read between the lines of the US Federal Reserve’s Open Market Committee meeting minutes: It offered few clear signs and clues to reforms
Trying to analyse Xi’s congress speech is like trying to read between the lines of the US Federal Reserve’s Open Market Committee meeting minutes: It offered few clear signs and clues to reforms.
