Xi Jinping's consolidation of power has paved the way for him to break China's vicious cycle of debt-fueled growth and put the economy on a more sustainable footing. But there's one big problem: He's failing to convince the nation that it's a good idea.
As the world's second-largest economy faces a prolonged downturn, Xi's move to eschew the old formula of unleashing broad stimulus measures is fueling resentment. The China Dissent Monitor, a project of the U.S.-based Freedom House that collects information on protests, says economic demonstrations have continued to surge since August, with many focused on labor disputes and a housing crisis that is eroding household wealth.
Comments are closed.