China’s Politburo has vowed to prevent the “disorderly expansion of capital” – an implication that capital has gained too much and must be curtailed. Photo: Xinhua
China’s Politburo has vowed to prevent the “disorderly expansion of capital” – an implication that capital has gained too much and must be curtailed. Photo: Xinhua
Zhou Xin
Opinion

Opinion

Zhou Xin

Xi Jinping’s new economic focus on China’s demand reform borrows ideas from Marx more than Keynes

  • China’s emphasis on the ‘demand side’ shows Beijing is looking at structural and institutional reasons underlying underconsumption
  • An all-out stimulus in 2008 arrested economic slowdown but also poisoned government and corporate balance sheets, making it a less-viable option now

China’s Politburo has vowed to prevent the “disorderly expansion of capital” – an implication that capital has gained too much and must be curtailed. Photo: Xinhua
China’s Politburo has vowed to prevent the “disorderly expansion of capital” – an implication that capital has gained too much and must be curtailed. Photo: Xinhua
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