Chinese flags fly over the Great Hall of the People, the site of the Communist Party Congress, in Beijing. One problem for China’s party is that state-owned enterprises play a vital role in sustaining one-party rule, but the bloated and inefficient firms suck scarce resources out of the economy. Photo: AFP
Minxin Pei
Opinion

Opinion

Minxin Pei

Two lessons for China on how to avoid a Soviet-style collapse in its new cold war with the US

Minxin Pei says Beijing is on track to lose its new cold war with the US, as it is failing to recognise and rectify the two mistakes that proved fatal for the Soviet Union: economic mismanagement and imperial overreach

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Chinese flags fly over the Great Hall of the People, the site of the Communist Party Congress, in Beijing. One problem for China’s party is that state-owned enterprises play a vital role in sustaining one-party rule, but the bloated and inefficient firms suck scarce resources out of the economy. Photo: AFP
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