Xi Jinping is now implementing a fourth major pivot to restructure China’s economy, this time far larger in scope than anything since the 2013 Decision and reflecting his core priorities to protect China and the CCP against countervailing forces, both internal and external. Since 2020–2021, Xi has been implementing a new comprehensive economic strategy—now called the New Development Concept—to prioritize security, political stability, and economic equality over rapid individual wealth accumulation; societal cohesion over economic efficiency; and national self-sufficiency over the benefits of
...more
