Pyrenean Wolf wrote:
6% is the official figure. Reality is much different. All serious economists know that (the ones free to talk). If you don't, then read a bit. Political situation is China is difficult because of the money wasted (the article I mentionned. You don't react about that ?) and because the growth is pretty much over. Not enough growth to create perspective, to compensate lack of freedom, ....
In an unstable dictatorship, it is a big problem.
So, Nationalism is pushed high by the govt. To compensate. Like in russia with Poutine.
The "your life is shitty, but you can be proud of ...whatever BS"
Not for the love of science and technology and culture... no, no
You know, masturbation on missiles, ships, planes.... we are strong, we are the leaders... the usual nationalism BS.
It will work for some time. How long ?
The most probable in China is big social movements, such as in Iran in the 70s, or "arabian spring" in the 2010, or Russia in the 80/90s, with this government being destroyed and replaced. By what ???
Indeed, Chinese economic and financial data is notoriously unreliable. A large Chinese company just missed an interest payment on a local currency bond even though just a quarter ago they claimed to have cash 15x the total value of that bond. A lot of the nationalistic rhetoric pushed by Xi and company is the result of China having a long history of secessionist movements. If you look at a map of China throughout history you'll see that it has rarely been as unified as it is now. A lot of people forget that Vietnam was a Chinese territory through the mid-1400s.
China's long-term political fate is difficult to predict. Just too many variables.
Taiwan will be an interesting issue which will probably be pressed by China in the next five years.