China Economic News

[specuvestor]

The Chinese crack-up is coming
DAVID SHAMBAUGH THE WALL STREET JOURNAL MARCH 09, 2015 8:11AM

ON Thursday, the National People’s Congress convened in Beijing in what has become a familiar annual ritual. Some 3,000 “elected” delegates from all over the country — ranging from colourfully clad ethnic minorities to urbane billionaires — will meet for a week to discuss the state of the nation and to engage in the pretence of political participation.

This "ritual" has very deep rooted historic background. Because of feudal system in the past, going to see the emperor has very implicit connotations

It is no surprise that the purge of high level officials will coincides with all these Peking meetings when they are actually physically there.

China is a republic- hence PRC: the system is there but the essence is not because the party dominates. Singaporeans should be very familiar how it works and whether it has worked EFFECTIVELY. The draconian control, as in all things in China policies, from WTO to RMB internationalisation, will be loosened slowly and much slower than hopefuls expect.

And purely from observation, so far their execution has been much better than "big bangs" elsewhere.

With due respect to the WSJ author, I think CCP will probably still be around when China GDP matches US.