China Seeks Growth Under Tight Control
Kevin Rudd on Bloomberg
ASPI President Kevin Rudd sat down with “Bloomberg Daybreak: Americas” on October 18 to talk about Chinese President Xi Jinping’s address on China’s economy during the 19th Communist Party Congress.
According to Rudd, Xi’s speech enshrined “the preeminent, continuing, comprehensive role of the Chinese Communist Party, not just in the pure politics of the country and the personnel who run it, but also across the economy and society.”
Still, Xi’s pledge to further open China’s economy and solidify Party control should not be seen as a “zero-sum game,” adds Rudd. Rather, Xi will continue to support the private sector while reaffirming the supremacy of the country’s political system and tightening the Party’s control. Ultimately, Xi is “seeking to sustain as tight as control as possible without at the same time, throttling growth in Chinese private firms which at present are providing the bulk of employment growth within China,” says Rudd. (1 min., 52 sec.)