This analysis highlights the flawed economic strategies under Xi Jinping's leadership, focusing on emerging industries like electric vehicles and semiconductors. Despite his belief in China's rise, Xi’s lack of understanding of technological innovation and the accumulation process leaves room for exploitation by opportunistic companies. The example of Evergrande's collapse and the rise of BYD exemplify the dangers of government-backed ventures and unregulated financial practices like supply chain finance and commercial paper. These practices, coupled with insufficient oversight, pose significant risks to the national economy, as companies exploit the system to sustain their expansion at the expense of long-term stability.
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