Posted on 06/12/2020 8:33:34 AM PDT by SeekAndFind
During a recent inspection tour of villages in the region of Ningxia, Chinese leader Xi Jinping emphasized his goal for China to become “a moderately prosperous society.” This catchphrase was coined soon after he took power in 2012, and is his flagship economic policy.
Xi also penned a May 31 article in Qiushi, the Chinese Communist Party (CCP)’s official magazine, that China is advancing toward achieving that goal, with “400 million people in the middle class.”
His standard for middle class was: an annual household income of 100,000 to 500,000 yuan ($14,160-$70,810). But in China, multi-generational households living under one roof are not uncommon.
Meanwhile, Chinese premier Li Keqiang has recently highlighted the unemployment and poverty crisis in the country, which have been exacerbated by the CCP virus pandemic.
Li said during a meeting of China’s rubber-stamp legislature on May 28 that 600 million Chinese only earn 1,000 yuan ($140) per month, which is not enough to pay for monthly rent on a one-bedroom apartment in a mid-sized Chinese city.
Li then promoted the idea of setting up a “street vendor economy” to alleviate the rising unemployment as a result of the pandemic.
On June 1, Li again said at an economic seminar in Qingdao city: “The challenges that [China] is facing is unprecedentedly difficult.” Li emphasized that hundreds of millions of Chinese people need financial support.
After Li’s speeches, state-run media first promoted the street vendor economy, but began running articles criticizing the idea on June 5.
Since then, each provincial and city government delivered conflicting information on whether or not street vendors would be allowed to sell their wares.
Observers have interpreted the openly contradictory messaging of late as an indication of the power struggle between Xi’s political faction and Li’s.
(Excerpt) Read more at theepochtimes.com ...
I think Xi is on the way out. He’s spent billions on his “road” project, and badly mishandled the virus epidemic.
This means that prosperous Party members have their pick of impoverished young Chinese women.
It does appear that the Princelings are preparing to pull a Kruschev and serve Xi’s head up on a platter to atone to the world for COVID-19.
We should not fall for it.
And the Democrat/Antifa/BLM crowd want that same privilege.
When examined closely. the goals of a revolutionary are usually about money and sex.
Economically we have little choice. I expect a deposing of Xi followed by a “Big, beautiful new trade agreement” with Trump - the news of which will help both economies. For a while...
China’s “prosperity” utterly depends on the mass production of mostly consumer goods for the export market. They resist honest free trade agreements because without an unfair advantage they will lose millions of jobs and the poverty and social unrest will worsen. The fact that consumer demand in the West has declined due to economic contractions has worsened the Chinese situation.
Yet poverty will not be eradicated in China until the inefficient, corrupt Chinese Communist Party hierarchy gives up control of the nation’s central bank and stops making decisions on how capital is allocated. Literally trillions of capital have been squandered. Huge “ghost cities” have been constructed remain empty and are deteriorating, immense “environmental” projects have resulted in harm and no return on investment. the huge investment in military hardware, (ships, jets, missiles, etc) as well as keeping millions of young men under arms, is wasteful and ominous. Historically nations that build up huge peacetime militaries come to use them.
Until capital is allocated in a rational economic manner by capitalists, China will continue to remain poor and unstable.
But, but, but... He is leader for life!
Xi is spending the most money on getting rid of Trump. This election is Trump vs. Xi. All those RINOs who are against Trump are being paid by Xi some how.
Could this be another Liu Shaoqi?
Probably not, I bet they all remember what happened to him.
That he is...cue firing squad
Xi will come down on the NEP men, just like Stalin.
For communists, building up the middle class is like
a snow ball rolling down hill, once it reaches a certain
size it’s hard to stop, so they will step on it at a
certain level before the middle class decides to have a
government that responds to their needs.
I watch 3 channels every night before bed:
https://www.youtube.com/channel/UCBOqkAGTtzZVmKvY4SwdZ2g (China in Focus, which I think is a sister site to Epoch Times)
https://gnews.org/ (video out of China)
https://www.youtube.com/channel/UCZz8q2tZC7QuQiFwPKQ4Bug (The Frustrated Indian)
I’m the life of the party, no? LOL
*** After Li’s speeches, state-run media first promoted the street vendor economy, but began running articles criticizing the idea on June 5. ***
I see that the US Media works the same way as the Chinese Media. Makes you wonder if the 1st Amendment guarantees of freedom of the press are even necessary. The Chinese certainly don’t have a “free press”.
I think Xi is on the way out.
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Could be. Certainly this is a public display that Xi has not consolidated his power which makes him more dangerous
More like China’s former “wise leader,” Hua Guofeng.
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