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China's Mostly Closed, Communist Party-Run Economy Touts Free Markets
2017-07-19
 

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China's Mostly Closed, Communist Party-Run Economy Touts Free Markets

2017-07-19

And once again, China's president Xi Jinping is the spokesman for globalization and open markets.

In the Bizarro World that we live in, a nation governed by the traditionally anti-Western capitalist Communist Party, and mostly closed to the world, can be continually counted on to list the virtues of trade and free markets.

On Tuesday, Xi was at it again. He's been at it since his trip to Davos, where he discovered his inner 'Davos Man' and became the poster child of anti-Trump protectionism at this winter's World Economic Forum.

It's probably best to say that Xi is touting "freer" markets, or better yet, a more open Chinese one. During a meeting with the Central Leading Group on Finance and Economic Affairs yesterday, Xi said China should improve its investment and market climate and accelerate opening investment opportunities for foreigners.

The country should “create a stable, fair, transparent and predictable business environment, and speed up efforts to build an open economy in a bid to promote the sustainable and healthy development of the Chinese economy,” Xi said at a meeting of the Central Leading Group on Finance and Economic Affairs.

Xi noted that part and parcel of an open economy was building strong, transparent, domestic institutions and laws that match some of the best practices already out there in the market.

 

source:https://www.forbes.com/sites/kenrapoza/2017/07/18/chinas-mostly-closed-communist-party-run-economy-touts-free-markets/#333b6444731c