Trouble in China?
Starting about a year back, the Chinese government has started shaking things up. Within China. Sharply and suddenly, writes Peter Hoskins: “Everything from insurance agents, private tutoring firms, real estate developers and even companies planning to sell shares in the US have come under intense scrutiny.” What’s going on? One can’t be sure, since China's leaders do not give interviews. So one can only guess the reasons. A couple of problems have been looming for some time. China’s population is beginning to age, and they need more young people to keep the economy growing. Hence the decision to allow upto 3 children per family. Another issue is the lack of “common prosperity”. There is an ever-increasing number of super-rich folks, a huge middle class and yet… there’s still a big chunk of the population that is not well off at all. Some of the recent moves would certainly seem to be based on these troubles-on-the-horizon. The tech industry bore the brunt of...