“The regulatory crackdowns are part of a broader paradigm shift that has taken place in how Beijing is approaching its economic policy and management. This includes acknowledging that China's old debt-fueled, investment-heavy growth model has run out of road. The new paradigm prioritises national security concerns, especially as far as data is concerned, and brings increased attention to socioeconomic trends, such as inequality that can cause instability and threaten the Party's control.”
26 Dec 2021
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