Historical parallels abound in China. President Xi Jinping is on his first visit in six years to China’s southeastern coastal provinces. Former Chinese leader Deng Xiaoping would make a high-profile tour of the economically vital south whenever he needed to consolidate support in Beijing for his rule and for his ambitious economic liberalization agenda. In some ways, Xi (whose father spearheaded Deng’s pilot special economic zone in Shenzhen 40 years ago) has been echoing the great reformer, pledging support for private sector manufacturers caught in the trade war with the U.S. and soothing foreign investors with platitudes about China’s commitment to free trade. Yet he has also been adopting a distinctly Mao-esque tone, emphasizing once again that China must become self-reliant and reduce its dependence on foreign technologies. In other words, it’s full steam ahead on the state-driven “Made in China 2025” plan to dominate high-tech sectors – a plan that Washington has
Daily Memo: Demographic Decline in Asia, Mixed Signals From the German Economy
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