China Economic Policy Shifting to Left, Former Australia PM Says: Bloomberg
Chinese President Xi Jinping’s recent language suggests the country is moving even further toward more state-backed intervention, says former Australian Prime Minister Kevin Rudd.
Xi’s speech to the Communist Party congress on Sunday re-emphasized how China’s economy is moving to the ideological left, according to Rudd. In his report, Xi signaled no change in direction for two main risk factors dragging down China’s economy -- strict Covid rules and housing market policies.