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Family Aid 2020
   Vol. 21 No. 5
Tuesday January 25, 2022
China Economic & Political Outlook
Quianmen Street

      Just before it all shuts down with another giant migration home as The Lunar New Year celebration begins one week from tomorrow (February 1), what lies ahead for China?
Kevin Rudd     With a massively indebted and failing real estate sector and uncertainty of elections later this year, China: An Economic and Political Outlook for 2022 – Domestic Political Reaction to China’s Economic Slowdown is a must read from New York’s Asia Society Policy Institute (ASPI) President and CEO Hon. Kevin Rudd.
     Mr. Rudd is also a former Prime Minister of Australia.
     As the factories shut down across China and satellites overhead can once again see the ground through clearing pollution, inter-city highways are jammed with people going home for this most treasured holiday time.
     “No doubt in recent years,” says Kevin Rudd, “XI Jinping has taken China to the “left” politically and economically, but to the “right” with his deeply nationalist narratives at home and a more assertive foreign and security policy abroad.
     “More recently, this has contributed to a slowdown in the Chinese economy and an increase in the level of political and policy reaction against Xi’s anti-market measures.
     “Now, with last month’s Central Economic Work Conference, the Communist Party appears to have now acknowledged a number of Xi’s measures have indeed gone too far, especially as Xi himself seeks to maximize economic stability ahead of his bid for reappointment to another term in office at the 20th Party Congress this November. But whether these corrective measures will be enough to restore economic growth in the short term given the Chinese private sector is now “once bitten, twice shy” is another question altogether.”
     In China: An Economic and Political Outlook for 2022 – Domestic Political Reaction to China’s Economic Slowdown Asia Society Policy Institute (ASPI) President and CEO Kevin Rudd tackles these questions and provides an analysis of how China’s economic challenges are likely to shape its politics and policies in the year ahead.

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