Business leaders in China can see the writing on the wall. Last month Xi Jinping secured his third 5-year term as president, making him the most powerful Chinese leader since Mao. And like Mao, Xi is more interested in top-down control and communist ideology than he is in market-driven prosperity. Chinese business executives who had gotten used to being relatively free to make money are now confronted with a leader who disappears billionaires who step out of line. It is dawning on some of them that, given Xi’s consolidation of power, it could be quite a while before the situation improves.Read More
Business people complain that ‘dictator’ Xi Jinping is dropping China ‘into an abyss’
