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The End of a ‘Gilded Age’
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The End of a ‘Gilded Age’

China Is Bringing Business to Heel

Paul Mozur
The New York Times, 2021
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8

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  • Overview
  • Background
  • Concrete Examples

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Since the 1970s, China has emphasized economic growth above all else. Now President Xi Jinping is shifting gears to implement his vision of a “common prosperity” and national self-sufficiency, with control firmly in the hands of government officials. Crackdowns on entrepreneurs and private companies have begun, and businesses are scrambling to interpret the signals Beijing is sending about what changes may come next. Journalist Paul Mozur offers a solid overview of their impacts on China’s private sector and on the global economy.

Take-Aways

  • China is shifting its economic priorities from growth to equity.
  • Private firms looking to retain government favor are revising their business models.
  • China’s tech giants’ valuations have faltered as Beijing addresses the “disorderly expansion of capital.”

About the Author

Paul Mozur is a New York Times Asia technology and geopolitics correspondent.

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