Comments by "Doncarlo" (@doujinflip) on "President Xi's New Economic Plans Spark A Crisis for China's Best-Paid Workers" video.

  1. More resilience by reinforcing their inefficient SOEs and budget-consuming public sector with money they don't have?
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  2. "4.7%" is their target, not their achievement. A lot of creative accounting if not straight lying goes into hitting that number. It's well known among serious analysts that the PRC GDP is grossly inflated, since every other economic indicator shows a far less impressive picture.
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  3. It may not be collapsing now, but it's certainly stalling. That threatens the "stability" of confidence for the CPC in the eyes of its people, since its political legitimacy rides on providing tangible development indefinitely.
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  4. Although Americans can vote with their wallets, which does influence financial firms. Chinese can't substantially vote for any alternatives to their government leadership.
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  5. The US is in a rough patch, but a mild one compared to ones America has lived through before. The downturn in China is even more severe and they have no experience negotiating it, especially as changing leadership to change momentum like any troubled organization or government would do is unthinkable for the ruling Party.
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  6.  @AraAra-n6o  Have you seen what happened during the Civil Rights Movement? There were a lot of high profile killings while some radicals openly called for even more identity-based segregation and violence. Before then was the even more bloody Labor Rights Movement, and before that the even more bloody Civil War. This current "woke" vs MAGA culture war is tame by comparison, and the traditionalists are struggling to form a coherent justification to "conserve" their narrow outmoded worldview. Plus gun laws are not as permissive as in the past anymore. Changes of leadership is a good thing, because often fresh eyes on a fresh face is often what's needed to change momentum. Organizations of all sorts do this regularly when their performance is stalling or reputation becomes troubled. China doesn't have that outlet, so their changes of polity inevitably involve mass violence upon each other. America has a lot of issues, but they're habitually overdramatized and in the process gets partially resolved from the public attention. China tries to do the opposite, hiding their issues until it's far too late which results in even more traumatizing overreaction. While America practices resilience by constantly negotiating through chaos, the state and civil society of China is like china -- hard and impressive looking until it takes a decent shock. I just moved out of Běijīng last year. There was noticeably more activity in the shops and airports and train stations during Zero COVID than after the post-pandemic spring surge, the opposite of what the rest of the world experienced. This can only be explained by a deep downturn from lack of payable demand.
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  7. Xi is an autocratic ideologue, and what's beneficial to the real economy is too discomforting to his worldview.
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