- Going by the last few years’ events occurring in China amply demonstrates that not everything is hunky dory in the communist nation. Right from the period when the pandemic appeared on the horizon – allegedly originating from China – severely debilitating the entire global community through the spread of the virulent virus and the subsequent economic meltdown, China is amid upheavals over its expansionist ambitions even going against the established world order. The increasingly far-from-ideal relationship between the United States of America and the Chinese leadership has had definite counterproductive effects on the global community in more than one way. The belligerence and intransigence of the communist regime have antagonized the majority.
PC: Oilprice
- Even India is enduring the ill-advised illegal occupation of the Dragon Nation in the eastern border along the line of actual control where both sides have amassed military men and materials on a large scale. Except for the beleaguered Russian President Vladimir Putin extending unhindered hands of friendship to Xi Jinping, the Chinese top leadership increasingly finds itself cornered. The domestic scenario is no different as the newspaper report suggests several top-level leaders being replaced with alarming regularity. Undeniably, Xi Jinping is facing tremendous pressure from the domestic upheavals where the rising unemployment numbers and inflationary trends have created havoc on the local population.
- Past instances in history like the communist domain of the erstwhile Soviet Union show that whenever dictator Stalin wanted to be rid of his rivals, he purged them by holding show trials, and then those comrades disappeared from the public eye. Disconcertingly, there are similar echoes of this in China now. Before the recent sacking of the finance and science & tech ministers, Xi Jinping removed his defense minister around eight weeks after the latter’s last public appearance. Earlier, two military leaders overseeing the nuclear arsenal were removed and the foreign minister was replaced in July, barely a month after he also disappeared. China appears to have taken a great leap backward over the pragmatism of the Deng era and the upheavals of the Mao phase. Stability and an orderly leadership transition seem a thing of the past.
PC: ET Reality
- For the global community keen on comprehending the domestic workings and undercurrent prevalent in China, the reason perhaps is that the implicit contract between the Chinese Communist Party and Chinese people is under threat. The idea that the party would deliver rising prosperity, and people would sacrifice liberty in return, may well be past its sell-by-date. And among the many economic challenges China faces, two stand out. China’s real estate bubble may soon burst. IMF estimates the ratio of average sales prices to median household disposable incomes even in the smallest Chinese cities are nearly double that of the largest OECD cities. And the joblessness is over 20%. The purges can’t alter the fact that Xi appears clueless in addressing the challenges. No wonder, China probably represents the foremost global risk right now.
