This and other blogs in the future will be based on my own conclusions and the superlative 51-page analysis by the Hudson Institute’s Senior Fellow, Thomas J. Duesierberg’s Ph.D “Economic Cracks in the Great Wall of China: Is China’s Current Economic Model Sustainable?” (dated December, 2021). I have high regard for this Institute based on the quality and authoritative nature of this publication and the movement of Secretary of State Mike Pompeo to the Hudson Institute.
Per the above study, “Structural issues include a looming downturn in population” (Per Barron’s, 12/27/21, Researchers at the University of Wisconsin estimate China’s population in 2020 was 1.28 billion instead of 1.41 billion reported, declining since 2018, with a fertility rate of 1.3 children per woman, short of 2.1 needed for replacement) and its workforce due to “undeveloped and under financed social safety and welfare net; income and regional inequality; environmental degradation; and shortages of raw materials, agricultural production, and energy resources.”
Per above, Economic problems include the following: “a real estate bubble, the accumulation of dangerous levels of debt, dependence on external markets and financing, a difficult transition to a more consumer-oriented and less investment-driven economy, a crackdown on dynamic digital financial sectors, a return to dominance of low-productivity state-owned enterprises [or partially owned] and manufacturing firms, and weak governance from an increasingly authoritative and unaccountable regime.” My words, Xi’s regime.
My words, Xi has taken credit through intense propaganda for China’s rise as he assumed the dictatorship in 2013. His rule disdains the advantages of free enterprises within China which have done well. He has borrowed heavily and overbuilt. He’s very bad for the Chinese Communist Party, the Chinese people, and globally. He’s the Hitler of our time.
Hopefully, prayerfully, the Chinese Communist Party and the Chinese people will hold him to two terms as called for in their Constitution. Thus, he would retire this year. NON-VIOLENTLY!