Odd Lots Dan Wang On the Extraordinary Moment for China's Party Congress
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Oct 13, 2022 Dan Wang, a China technology analyst at Gavekal Dragonomics, provides critical insights into the upcoming National Congress of the Chinese Communist Party. He outlines the unique challenges facing China, including economic downturns, strict COVID policies, and external pressures from the U.S. on technology dealings. The conversation delves into the implications of these issues for China's future leadership and international relations, as well as the impact on its beleaguered tech industry and real estate sector.
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Xi's Power and Personnel
- Some China watchers believe Xi Jinping's power has grown so much that personnel changes may not matter.
- Xi's influence might overshadow any potential reformist tendencies of newly appointed officials.
Foreign Capital in China
- Despite Li Keqiang's exit, China is expected to maintain its openness to foreign capital.
- Someone else will likely champion economic interests due to their importance for the Party's legitimacy.
Rationale Behind Zero-COVID
- China's zero-COVID policy stems from the government's prioritization of saving lives and maintaining political stability.
- They fear a potential catastrophe with millions of deaths and social unrest if the virus spreads uncontrollably.