China’s Iron Fist Is Turning The Coronavirus Into An Economic Disaster, by Christopher Whalen

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President Xi Jinping, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, inspects the novel coronavirus pneumonia prevention and control work in Beijing, capital of China, on Feb. 10, 2020. (Xinhua/Ju Peng)

Xi Jinping’s massive insecurity complex has led to a crisis that’s beginning to affect global markets, too.

China’s had a difficult year in 2019, balancing political unrest in Hong Kong and among oppressed Muslims with its trade dispute with the United States. All this has already caused the Chinese economy to slow considerably, with a spillover into the global economy that has still not been fully appreciated by investors and policymakers.

This year began with the explosion of the coronavirus crisis in Wuhan, a health disaster caused by China’s indifference to the basics of civil sanitation and hygiene. In both cases, what should have been a manageable challenge became a global crisis because of the inefficiency of authoritarian rule by the Chinese Communist Party (“CCP”).

Since rising to power in 2013, Xi Jinping has viciously attacked his political rivals and discarded China’s collective leadership. Xi’s brutal rise to sole power in China is nothing if not a display of massive insecurity. Revelations that Beijing feels the need to imprison over a million Muslim Uighurs in work camps, a mere 10 percent of the 11 million population of Xinjiang, also suggests a very direct fear of instability. But the more the CCP tries to thwart China’s progression toward freedom, the more the pressure for change builds.  ….

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