Opinion: In the future, we may look back on 2022 as a turning point when optimism shifted to pessimism in China, writes Yun Jiang
, has become viral. The urge to work relentlessly to improve one’s situation in life is no longer as strong.
Some of China’s economic downturn can be attributed to its strict adherence to the zero-COVID policy, for which there is no end in sight. Cities in China are still being locked down because of a few COVID cases. These lockdowns disrupt businesses and people’s livelihoods, affecting both supply and demand.
Alibaba seeks to turn the focus toward sustainability and philanthropy, key pillars of President Xi Jinping’s drive to reshape China’s economy.As economic growth slows, Xi is trying to diversify the source of party legitimacy. From the party congress, two more sources of legitimacy have emerged: common prosperity and nationalism.
Common prosperity is Xi’s signature economic policy to reduce inequality and boost the quality of life for ordinary people. It is too early to judge whether inequality is indeed reducing under this policy banner, as the term was only introduced a year ago. So far, it has spooked some big technology companiesBesides, some doubts remain that Xi will continue to push hard on reducing inequality in the face of drastic slowing growth.
It’s not just due to the slowing growth. In China, the zero COVID policy has led to the resurging strong arm of the state. This is visible everywhere in the form of “Big White” – government officials who enforce quarantine and testing. Some of their more inhumane acts have been criticised in the country, from the
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Queensland police to get expanded powers to randomly scan people for knivesOfficers will be able stop and search people on public transport and in all ‘safe night precincts’ in two-year trial
Read more »
World Cup ambassador describes gay people as having 'damage in the mind'The controversial comments from World Cup Ambassador Khalid Salman came in an interview for German television, in which he called gay people ‘haram’ and said they have ‘damage in the mind’. Read more:
Read more »
People in regional Victoria ‘deserve a better deal’ in V/Line fares: Daniel AndrewsVictoria's Premier Daniel Andrews says people in regional Victoria 'deserve a better deal' in V/Line fares. “Under Labor, you will no longer pay more than what people pay in Melbourne to get a V/Line train,” Mr Andrews said at a media conference on Tuesday morning in Geelong. “It’s called putting fairness into V/Line fares – it’s about equity. “It’s about saying that people in regional Victoria, they deserve a better deal.”
Read more »
Bass instinct: low notes really do get people dancing, research findsNeuroscientists show clubbers move more to very low frequencies, even though they are not consciously detectable
Read more »