Officially A No-growth World

This is a syndicated repost courtesy of Alhambra Investments. To view original, click here. Reposted with permission.
I really don’t think people quite understand just how much trouble China is in right now. That’s no mystery because in the Western media the Chinese economy is almost always described as somewhere between awesome and magnificent (only slight hyperbole). Their government, on the other hand, is not fooled.
General Secretary Xi Jinping opened the Communist Party’s 19th Congress with an amazing speech. It wasn’t amazing in the respect of soaring rhetoric announcing some actual, concrete commitment to freedom and free markets; it was instead the opening bell for, I think, a very different world outlook.
I write for my column tomorrow that it was in some cursory way reminiscent of the Trump candidacy.
On the surface, it almost seemed as if Xi Jinping was channeling Donald Trump. Opening China’s 19th Party Congress this week, the Communist General Secretary of that Congress talked a lot about ‘rejuvenation.’ The word recalled the 2016 US Presidential campaign and the Republican’s promise to ‘make America great again.’

This post was published at Wall Street Examiner by Jeffrey P. Snider ‘ October 19, 2017.