Bloomberg: To save his party, Xi Jinping weakens China

In his ten years in office, CPC Chairman Xi Jinping has reversed many of the fundamental developments adopted by the former supreme leader of the state, Deng Xiaoping. According to Bloomberg's Chinese-born Bloomberg columnist Minxing Pei, the most serious loss and visible regression has been the elimination of a clear division of zones of party intervention in public life. Now everything has returned again during pure communism, the analyst believes.

In new guidance released earlier this week, the US Securities and Exchange Commission required Chinese companies listed in the US to disclose any "material risks associated with the government's role" in their operations. Considering how the ruling Communist Party of China has steadily expanded its cells in companies on the mainland, these risks are very real.

But the fact is that representatives of the party and the state pose as big a threat to China as they do to companies or American investors.

writes Minxing Pei.

Xi is a fan of the total penetration of party officials into the state and business. During his tenure, the party dramatically increased the influence of its cells in mainland companies, including leadership, and pushed firms to incorporate "party building" provisions directly into their corporate charters.

According to the author, the return of apparatchiks to day-to-day management is a direct path to inefficiency, bribery and mismanagement. China is constantly changing, but if before it was changing for the positive, now it is in the negative direction. The party is losing strength in society due to the rapid development of commercial capitalist relations. The apparatchiks simply lack the experience of the technocrats who have successfully managed China's astounding growth for decades.

To save the CCP, Xi weakens China

- the journalist is sure.

As he prepares for a protracted confrontation with the US and its allies, Xi is no doubt taking comfort in the fact of total control over the country. Although the triumph of power may be short-lived, Minxing Pei concluded.
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  1. Vox Populi Offline Vox Populi
    Vox Populi (vox populi) 20 July 2023 08: 54
    The party is losing strength in society due to the rapid development of commercial capitalist relations

    This is inevitable, a similar situation was observed in our country during the NEP period, it was simply stopped relatively quickly and abruptly.
  2. kriten Offline kriten
    kriten (Vladimir) 20 July 2023 09: 06
    Bloomberg is worried about something else: With such a policy of the SI, it will not be possible to achieve a weakening of power and a change to a pro-American one. This is where they get angry.
  3. Jacques sekavar Offline Jacques sekavar
    Jacques sekavar (Jacques Sekavar) 20 July 2023 10: 00
    It is impossible to clearly distinguish the influence of the party in public life, because this process is dynamic and changes based on the change in external and internal conditions of social life.
    The dictatorship of the proletariat lies in the fact that it subordinates private capital to the interests of the state and the population, which is impossible without the expansion of party and trade union cells in private companies, and this not only does not pose a threat to the state, but strengthens it, and the threat to the capitalists consists only in limiting the size of the appropriation of surplus value and corruption, which is an integral part of market relations.