{"id":105648,"date":"2021-10-05T07:00:54","date_gmt":"2021-10-05T11:00:54","guid":{"rendered":"http:\/\/kendallharmon.net\/?p=105648"},"modified":"2021-10-05T05:27:12","modified_gmt":"2021-10-05T09:27:12","slug":"nyt-the-end-of-a-gilded-age-china-is-bringing-business-to-heel","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=105648","title":{"rendered":"(NYT) The End of a \u2018Gilded Age\u2019: China Is Bringing Business to Heel"},"content":{"rendered":"

Chinese tech companies are reeling from regulation. Nervous creditors are hoping for a bailout for China\u2019s largest developer<\/a>. Growing numbers of executives are going to jail. An entire industry is shutting down.<\/p>\n

For China\u2019s leader, Xi Jinping, it\u2019s all part of the plan.<\/p>\n

Under Mr. Xi, China is reshaping how business works and limiting executives\u2019 power. Long in coming, but rapid in execution, the policies are driven by a desire for state control and self-reliance<\/a> as well as concerns about debt, inequality and influence by foreign countries, including the United States.<\/p>\n

Emboldened by swelling nationalism and his success with Covid-19, Mr. Xi is remaking China\u2019s business world in his own image. Above all else, that means control. Where once executives had a green light to grow at any cost, officials now want to dictate which industries boom, which ones bust<\/a> and how it happens. And the changes offer a glimpse of Mr. Xi\u2019s vision for managing the economy, ahead of a political meeting expected to solidify his plans for an unprecedented third term in charge.<\/p>\n

Read it all<\/a>.<\/p>\n

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Xi Jinping is remaking China\u2019s business world in his own image. Where once executives had a green light to grow at any cost, officials now want to dictate which industries boom, which ones bust and how it happens. https:\/\/t.co\/2ZMJCFBwnM<\/a><\/p>\n

— New York Times World (@nytimesworld) October 5, 2021<\/a><\/p><\/blockquote>\n