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Financial Times

13 Sep, 9 tweets, 5 min read

China has shaken markets and cryptocurrencies with its new regulations and tech crackdown. But why is the country taking such a hard stance and overhauling its governance? on.ft.com/3llFmKh

China’s president Xi Jinping is reinserting the party into the private sector and into family lives in a way that has not been seen since Deng launched the ‘reform and opening’ era in 1978 ft.com/content/bacf9b…

In a series of dramatic moves over the past year, from a crackdown on China’s biggest tech companies to strict time limits on playing video games, Xi Jinping is flirting with propaganda tools and intimidation tactics that many see as similar to the Mao era ft.com/content/bacf9b…

Many of China’s recent announcements represent a form of economic populism in response to widespread anxiety about inequality in the country. Xi Jinping has made it clear that his party is duty-bound to deliver ‘common prosperity’ and stand up to the west ft.com/content/bacf9b…

Many of China’s leading private sector entrepreneurs snapped to attention, pledging billions of dollars to charities and social welfare even as prominent officials rushed to assure them that Xi was not going to ‘kill the rich to help the poor’ ft.com/content/bacf9b…

Public figures in China have been fined millions for tax evasion, the country’s Supreme Court declared the 72-hour work weeks at many technology companies as illegal, and the housing ministry said that it would cap annual residential rent increases at 5% ft.com/content/bacf9b…

Xi’s supporters argue that the recent policy onslaught is essentially benign and long overdue — and shares much with the economic populism in the US of Democratic lawmakers rather than Mao’s revolution ft.com/content/bacf9b…

Xi’s admirers see him as a ‘transformational’ leader who needs more time to lead the country into an era in which it will finally match the wealth and influence of the US, meaning he will have to be in power for longer than 10 years ft.com/content/bacf9b…

Want to find out more about China’s new regulations? Click here for the second part of this series, which looks into how Xi Jinping’s government controlling a huge volume of data is a grand experiment in 21st-century authoritarian governance 👇
ft.com/content/9ef38b…

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