View source for Essay: Is there anything more fragile than an economy run by communists - especially one that has the cult of personality surrounding Xi Jinping?

[[File:Broken-egg.jpg|thumbnail|center|400px|"The underpinnings of China’s growth seem fragile from historical and analytical perspectives. Even if no crises materialize, unfavorable [[Demography|demographics]], high debt levels, and an inefficient financial system will constrain China’s growth."<ref>[https://www.imf.org/en/Publications/fandd/issues/2023/12/China-bumpy-path-Eswar-Prasad China Stumbles, but it is Unlikely to Fall] by Eswar S. Prasad, December 2023</ref>
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Is there anything more fragile than an economy run by communists - especially one that has the [[cult of personality]] surrounding [[Xi Jinping]]? 
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'''Question:''' Are Chinese vases less fragile than Xi Jinping's inept leadership?]]
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Authoritarian regimes, like China, are strong (Various means to repress population and/or to limit other political options), but at the same time they are brittle. The former [[Soviet Union]] is an example of this principle.

In modern history, corrupt, one-party regimes are not known for their great longevity such as lasting over 100 years and China has one-party rule - namely the [[Chinese Communist Party]].<ref>[https://www.abc.net.au/news/2020-01-05/chinas-communist-party-is-at-a-fatal-age-for-one-party-regimes/11807138 China's Communist Party is at a fatal age for one-party regimes. How much longer can it survive?], Australian Broadcasting Corporation, 2020</ref> Mint News reported that "Chinese President [[Xi Jinping]] is expressing concerns about the potential collapse of the Communist Party of China (CCP) as millions worldwide are renouncing their affiliation with the party."<ref>[https://www.livemint.com/news/world/xi-jinping-raises-concerns-over-potential-collapse-of-chinese-communist-party-report-11689727293157.html Xi Jinping raises concerns over potential collapse of Chinese Communist Party: Report], Mint News, 2023</ref>

The Chinese Communist Party could lose power if China continues its downward path in terms of economic strength (See: [https://www.taipeitimes.com/News/editorials/archives/2023/09/29/2003806928 Scenario of a collapse of the CCP], ''Taipei Times'', 2023). 

== Chinese elite fleeing to the USA.  Roman Empire elite fleeing beyond the Roman Empire's borders during the decline of the Roman Empire ==

See: [[Essay: China's decline and some Roman Empire decline parallels|China's decline and some Roman Empire decline parallels]]

'''Chinese elite fleeing to the USA:'''

''See also:'' [[Essay: Top 12 reasons why people are flocking to the USA and leaving the corrupt, authoritarian countries of China and Russia|Top 12 reasons why people are flocking to the USA and leaving the corrupt, authoritarian countries of China and Russia]]

"What of the new, 21st-century Chinese elite? Unnoticed, many “princelings” — progenies of the 500 families that founded the [[People's Republic of China|PRC]] in 1949 — have quietly left with their ill-begotten gains, and settled in exile, mostly in the Los Angeles area. This is not a sign of confidence in the CCP regime when the offspring of its founders have forsaken it." - [https://cepa.org/article/communist-china-a-long-march-to-collapse/ Communist China: A Long March to Collapse?] (Only those ignorant of its history think Communist China will survive forever. It won’t) by Dimon Liu. Center for European Policy Analysis, July 15, 2024

'''Roman Empire elite fleeing to beyond the Roman Empire's borders:'''

[[File:Roman Empire elite fleeing declining Roman Empire.png|thumbnail|center|800px|[https://www.google.com/search?q=Roman+Empire+elite+fleeing+the+roman+empire&sca_esv=ecab62f8c07129e5&sxsrf=ADLYWIJmq_jBad3BxL6uTzHIMc1gxcv_CA%3A1736099529894&ei=ycZ6Z8OONvmy0PEPw5uWkQs&ved=0ahUKEwiDl5jekt-KAxV5GTQIHcONJbIQ4dUDCBA&uact=5&oq=Roman+Empire+elite+fleeing+the+roman+empire&gs_lp=Egxnd3Mtd2l6LXNlcnAiK1JvbWFuIEVtcGlyZSBlbGl0ZSBmbGVlaW5nIHRoZSByb21hbiBlbXBpcmUyBRAAGO8FMggQABiABBiiBDIIEAAYogQYiQUyCBAAGIAEGKIEMggQABiABBiiBEidbFC8C1iGaHAGeAGQAQCYAZYBoAGwDqoBBDAuMTS4AQPIAQD4AQGYAhGgAq8LwgIKEAAYsAMY1gQYR8ICBxAjGLACGCfCAgoQIRigARjDBBgKmAMAiAYBkAYIkgcENi4xMaAHxjc&sclient=gws-wiz-serp Roman Empire elite fleeing the Roman Empire] ]]

== China's major economic crisis are signs of major deflationary pressures ==
[[File:Flag of the PRC.png|thumbnail|right|220px|Flag of China]]
According to Investopedia, "[[Deflation]] is not normally bad for an economy, except when it occurs in reaction to previous over-inflation."<ref>[https://www.investopedia.com/articles/personal-finance/030915/why-deflation-bad-economy.asp Why Is Deflation Bad for the Economy?], Investopedia</ref> Unfortunately for China, it has economic bubbles that are bursting in relation to its real estate and stock markets which is causing much economic hardship to many Chinese. Both of these markets had values that were highly inflated relative to their actual economic value. The Empower website notes that deflation "can lead consumers to spend less now, in part because they expect prices to continue to fall; it can push businesses to lower wages or lay off employees to maintain profit levels; and it makes existing debt more expensive for many borrowers.<ref>[https://www.empower.com/the-currency/money/deflation#:~:text=It's%20bad%2C%20in%20part%2C%20because,more%20expensive%20for%20many%20borrowers. What is deflation?], Empower website</ref>

Presently, [[communism|communist]] China is facing multiple crisis with the three major crisis below being signs of growing deflationary pressures on their economy:

*[[Chinese real estate crisis (2020–present)]]

*[[Chinese stock markets|Chinese stock markets crisis]] (Since 2021, China’s stock markets have lost about $7 trillion in value.<ref>[https://www.marketplace.org/2024/02/06/why-chinas-stock-market-struggling/ What’s going on with China’s stock market?], MarketPlace.org</ref>)

*[[Youth unemployment in China]]

*[[Essay: It's time to be very bearish about China's long-term economy|It's time to be very bearish about China's long-term economy]]

== The rising rule of communist idiocracy in China ==
[[File:Xi in Maoist outfit.PNG|thumbnail|right|400px|[[Xi Jinping]] is the current General Secretary of the Communist Party of China which requires that all their members be atheists.<ref>[https://www.thenewamerican.com/world-news/asia/item/19567-china-s-communist-party-reaffirms-marxism-maoism-atheism China’s Communist Party Reaffirms Marxism, Maoism, Atheism], New American, 2014</ref> 
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See: [[China and atheism]] and [[Atheism and communism]] ]]
''See also:'' [[Essay: The rising rule of communist idiocracy in China|The rising rule of communist idiocracy in China]]

In 2023, Professor Minxin Pei, professor of government at Claremont McKenna College, wrote about China's dysfunctional government:
{{Cquote|The bigger problem is that President [[Xi Jinping]] and his lieutenants still haven’t figured out how to dispel gloomy sentiments among Chinese entrepreneurs and foreign investors. The government’s crackdown on the tech sector and mistreatment of iconic executives such as Alibaba founder Jack Ma and real estate tycoon Ren Zhiqiang have instilled deep fears among private-sector businessmen. Many have emigrated abroad along with their wealth. A record 13,500 high-net-worth individuals are expected to leave China for safer shores this year.

If Xi can’t reverse this trend, the loss of confidence in his leadership among private entrepreneurs will depress investment and job creation. The share of private capital in China’s total investment in 2022, for example, fell to roughly 54% , the lowest in a decade.

The government can’t tackle this problem because it is the problem. In the past decade, there’s been a fundamental shift in the survival strategy and governance structure of the ruling Chinese Communist Party. The regime has prioritized political control over economic development and systematically shifted resources from the private sector to state-owned firms, mainly through industrial policy programs such as Made in China 2025.<ref>[https://archive.ph/fZtv2#selection-5577.0-5601.433 China’s Economy Is OK. The Problem Is Its Politics] by Minxin Pei (Professor of government at Claremont McKenna College, Bloomberg News, 2023</ref>}}

On October 30, 2023, ''The Guardian'' reported: "But by all accounts, the number of uber-wealthy people in China is in decline. Of the world’s estimated 2,640 billionaires, at least 562 are thought to be in China, according to Forbes, down from 607 last year.<ref>[https://www.theguardian.com/world/2023/oct/31/chinas-billionaires-looking-to-move-their-cash-and-themselves-out#:~:text=Wealthy%20Chinese%20are%20also%20looking,%26%20Partners%2C%20an%20immigration%20consultancy. China’s billionaires looking to move their cash, and themselves, out], The Guardian, 2023</ref>

Videos and articles:

*[https://www.forbes.com/sites/miltonezrati/2024/05/24/beijing-signals-that-it-has-no-idea-what-to-do-about-its-economy/?sh=a9e167fbfb2f Beijing Signals That It Has No Idea What To Do About Its Economy], Forbes, 2024

*[https://www.youtube.com/watch?v=5vWCzfX9MI4 How Xi Jinping’s authoritarianism is killing China’s economy | Business Beyond], 2024, video

*[https://asiatimes.com/2023/11/the-japanification-of-china/ The Japanification of China due to Xi Jinping], China is slipping from motion to stagnation, raising questions if it can escape the same contradictions that doomed the Soviet Union, ''Asia Times'', 2023

*[https://www.express.co.uk/news/world/1816127/china-economy-crisis-xi-jinping-ccp China on brink: Xi's new power plot and single-man crisis sends economy into freefall], ''Express'', 9-24-2022

*[https://www.youtube.com/watch?v=N6diJbq3Jh0 Larry Kudlow: Xi Jinping has issued 'declaration of war' against capitalism]

*[https://www.youtube.com/watch?v=lEGBSPJrh3A Xi Jinping is not concerned with the growth of the Chinese economy, says China expert Matt Pottinger]

*[https://www.youtube.com/watch?v=8hC_VylW7jA Chinese President Xi tightens grip on authority amid fears of a return to one-man politics]

*[https://www.youtube.com/watch?v=s33a4QgHRQM Xi Jinping In Major Line Of Fire As China's Economy Slowing Down, And Major Sectors Are Collapsing], India Today, September 2023

== Countries with more freedom are more likely to experience greater economic growth long-term ==

Research indicates that in the long-term, non-[[authoritarianism|authoritarian]] countries are more likely to experience greater economic growth. See: [https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1010748 Time Under Authoritarian Rule and Economic Growth], CORI Working Paper No. 2007-02

* [[Essay: High income countries are rarely authoritarian countries in our technological age driven by innovation|High income countries are rarely authoritarian countries in our technological age driven by innovation]]

* [https://grok.com/share/c2hhcmQtNA%3D%3D_1468b637-e527-4077-b698-44cd56ccd6d1 Additional data that high-income countries are rarely authoritarian countries]

== Key parallels between China's decline and the Roman Empire's decline ==

See: [[Essay: China's decline and some Roman Empire decline parallels|China's decline and some Roman Empire decline parallels]]

==  Capitalism works and it is the best system ==

*[https://www.youtube.com/playlist?list=PLbjmSS6LZDGounra1oTDTIHXlodKALZCb Capitalism works and it is the best system], video playlist
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[[Image:Trw6543.jpg|center|thumb|300px|"Underlying most arguments against the free market is a lack of belief in freedom itself." - [[Milton Friedman]], Capitalism and Freedom, 1962.]]
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== Other essays about China ==

*[[Essay:Skepticism about China remaining a global power|Skepticism about China remaining a global power]]

*[[Essay: The rising rule of communist idiocracy in China|The rising rule of communist idiocracy in China]]

*[[Essay: It's time to be very bearish about China's long-term economy|It's time to be very bearish about China's long-term economy]]

*[[Essay: Communist China’s quixotic quest to innovate: A statist economy can’t make creativity greatly blossom|Communist China’s quixotic quest to innovate: A statist economy can’t make creativity greatly blossom]]

*[[Essay: Donald Trump, who is favored to win the 2024 presidential election, wants to hammer China with high tariffs|Donald Trump, who is favored to win the 2024 presidential election, wants to hammer China with high tariffs]]

*[[Essay: The chance that that China's GDP will one day overtake that of the US is declining|The chance that that China's GDP will one day overtake that of the US is declining]]

*[[Essay: China has a labor productivity rate that is a WHOLE LOT LOWER than the labor productivity rate of the USA|China has a labor productivity rate that is a WHOLE LOT LOWER than the labor productivity rate of the USA]]

*[[Essay: China's promotion of the transexual agenda in the USA|China's promotion of the transexual agenda in the USA]]

== User:Conservative's essays ==

*[[User:Conservative's essays]]

== External links ==

*[https://www.youtube.com/watch?v=_Sg77mbZn3k End of China's Golden Age Risks Political Peril for Xi], video

== References ==
{{Reflist|colwidth=30em}}

[[Category:Essays]]