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Xi Takes a Page From Mao’s Red Playbook
Craig Singleton — The Daily Beast In the 1985 blockbuster Back to the Future, California teen Marty McFly journeyed back in time to save his present. The film’s universal themes are known around the world, and Chinese leader Xi Jinping appears to have internalized them as he approaches the most fraught moment of his political career. What Xi lacks in a time-traveling DeLorean, however, he more than makes up for with the theory of “continuous revolution,” as first championed by Mao Tse-Tung. Read more
Desmond Lachman breaks down the inflation situation in Turkey and its central bank's strange monetary policy stance. Lachman also provides historical perspective on present economic challenges in South Africa.
Is this China’s Lehman Brothers moment?
Desmond Lachman | The Hill In the same way that US economic policymakers and financial markets were rocked by the aftermath of Lehman Brothers' 2008 bankruptcy filing, Chinese policymakers face a similar challenge with Evergrande. With property accounting for 28 percent of the Chinese economy, a critical failure in this sector could have disastrous consequences for the Chinese and regional economies. |
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