Swarajya's China Tracker: What's Next In Xi Jinping's Reign
November 28: Global stocks are responding to the protests against Xi Jinping's Covid-zero policy in China.
S&P 500 closed 1.5 per cent down, Nasdaq Composite was down 1.6 per cent, Hang Sang China Enterprises Index was down 4.5 per cent before closing at 1.6 per cent loss, and CSI 300 Index (Shanghai) was down by 2.8 per cent before closing at 1 per cent in the red.
Covid Zero Policy
President Jinping's administration is now caught in a vicious loop. Damned if they close, and damned if they open up.
What is ushering a tipping point in China's Covid controls and why is Xi's Covid-zero policy beginning to fall apart? Read our stories to find out:
A New Cold War
Beijing and Washington are now engaged in a trade cold war. What began as many described an unnecessary diplomatic hammering under President Donald Trump is now an accepted bipartisan policy. Starting with semiconductors, the US is turning on the heat against China.
Where is this cold war heading and much more, summed up here:
India Versus China
The world's third-largest economy and biggest free-market in the making, India is emerging as a key challenger to conventional China, that prided itself on ease of doing business, ushering investments, and being the hub for easy labour. Post-Covid, is it India's time to shine?
The Emperor's New Clothes
Securing a third-term in the National Congress, held in October 2022, Jinping is all set to rule China for life.
However, it won't be an easy sailing, given the question of a slowing economy, intensifying trade war with the West, and Taiwan which will continue to haunt Jinping's policymaking. Read Swarajya's four-part series on this, below:
The Music Is Slowing Down
For almost a decade after the financial crisis of 2008, it was China that was the global economic hotspot with investments coming in from world over. That party, unfortunately for Xi, is over, as Covid-zero policy coupled with a general slowdown in consumption threatens China's economy.
Troubles In The Taiwan Strait
For China, the question of Taiwan is not political, but civilisational, and one of Xi's primary priorities. Given the West's failure to curb the Russian misadventures in Ukraine, along with that infamous exit from Afghanistan and Iraq, will China go for Taiwan after Hong Kong?
The Ghosts Of China
In the second-half of 2021, authorities in China demolished 15 skyscrapers with 4.6 tons of explosives across 85,000 blasting points, all in 45 seconds. The buildings, unoccupied for almost a decade, were described as an eye-sore in the local newspapers. The absurdities do not end here, however.
Swarajya has compiled the complete story of China's collapsing real estate here:
Commerce And China
It won't be an exaggeration to state that the biggest pro-China lobby in the West Wing is the Wall Street itself, followed by the Silicon Valley. From Apple to Goldman, everyone wants to have a piece of the China pie. In China, however, with great market size, comes great crackdowns.
Here is the harrowing tale of doing business in China:
Taking On The World
In the 1990s, the Chinese drew critical lessons. One, from the fall of USSR. Two, from the US' quick victory in the Middle East. And three, from the protests at Tiananmen Square. Biding their time, the Chinese are now upping the ante, swiftly infiltrating global institutions.
What does it mean for the world though? Read here:
The Infamous Belt And Road Initiative
Debt-traps, strategic takeovers, and wolf-warrior diplomacy have ushered a troubled phase for Jinping's Belt and Road Initiative. The $2 trillion plan, with key investments in Europe, Africa, and Latin America, is now under scanner from policymakers world over.
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.