Comments by "Peter Jacobsen" (@pjacobsen1000) on "China Update"
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The gaming crackdown appears to be an important part of Xi's philosophy around 'economic development': Xi wants to advance 'the real economy', i.e. physical products that you can export or build, or which can tangibly improve people's lives, like a shovel, or a railway, or a woolen sweater. The online economy seems 'unreal' to Xi, or fake, or empty. This is the case with gaming, social media, streaming, etc. Frankly, I think it smells of 'old man yelling at cloud', not least because the online industries combined generate trillions of dollars every year globally.
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I was a little surprised, too, but it is likely because a very large percentage of private enterprises are made up of small factories in the interior, small retail businesses, and restaurants. Those enterprises tend to employ mostly rural employees with low educational attainment. State-owned enterprises and government organs tend to hire better educated people.
Those who work in large and famous private enterprises, like Alibaba, Tencent, Lenovo, BYD, etc., probably have a much higher salary, but they are, after all, only a small minority of the labor pool.
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