Connect with us

Politics

Reviews | Chinese Xi Jinping repeating Mao’s mistake ?, Opinions & Blogs News

 


China is in a mode of repression. From technology to education to real estate, even gambling has not escaped the grasp of the Chinese Communist Party (CCP). While the clearest and clearest picture of why the state has resorted to such measures has not yet been fully disclosed, media reports are replete with claims from experts around the world who say it is an attempt by the Chinese state to curb ‘out of control’ and assert its primacy in China’s internal affairs.

Billions of dollars have been wiped out from the wealth of Chinese business tycoons like Jack Ma and their companies. The crackdown in many sectors has caused investors, both inside and outside China, to worry about their money being stuck in the Chinese financial system. The government, so far, does not seem in the mood to stop.

But when you play too much with the economy, the game comes back to bite you as we saw in the days of Mao.

In this particular example, Mao did not play with the economy as much as he apparently satisfied his urge to show the country that he is the man who can successfully implement sweeping reforms.

The hasty and unscientific decision

Mao Zedong in his Great Leap Forward in the 1950s, announced major and radical campaigns to modernize China and improve Chinese life. Sparrows were considered to be an obstacle to development because they ate food grains.

In 1958, Mao called on the Chinese to undertake a massive campaign to eliminate the bird which he said was preventing China from realizing its full potential.

Read also | Evergrande crisis in China: a global financial crisis in the making

Many people have been mobilized for this. They destroyed sparrows’ nests, slaughtered birds from the sky, set traps, even beat drums to keep sparrows from landing so that they died of exhaustion. The scale of this operation was enormous.

The exact figures are not known but even if we consider that one person killed a sparrow, that would make over 600 million birds killed!

The effects of such a hasty and unscientific decision were immediately felt the following year.

Sparrows weren’t content to just eat grain. They also ate insects which destroyed crops. As the sparrows effectively disappeared from Chinese skies, this caused a massive increase in the number of insects like locusts that have devastated Chinese agriculture. With its natural predator gone, the insects were free to destroy crops at will.

Read also | Hong Kong Stock Exchange Suspends Trading in Evergrande Shares

The result was the deaths of millions of Chinese due to a food shortage or other domino effects that resulted in the death of sparrows. Chinese official estimates say 15 million people have died. But some researchers say the number was between 45 and 78 million.

Current repression similar to that of Mao?

Chinese President Xi Jinping’s crackdown may have come at a time when China is not a primitive nation but capable of challenging the reigning superpower, but the effects of the sweeping decisions are more than apparent.

Take the Evergrande crisis for example.

China’s leading real estate group is on the brink of collapse. She has over $ 300 billion in debt, well over the company’s actual value. Evergrande has not paid interest to bondholders at least twice recently. This sent a big fright among investors around the world.

Read also | Evergrande investors in the dark as no news on interest payments emerges

Recent warnings from the Chinese real estate sector followed the country’s crackdown on excessive borrowing by real estate companies. While the intention may be to discipline the industry, the collapse of a large corporation can have a disastrous effect on the Chinese economy and spill over into the global economy. The crackdown is already causing loan losses in banks and difficulties in credit markets. They are suspicious of Evergrande’s fate.

The real estate sector represents a quarter of the Chinese economy. A major boom in this sector can shake the economy which invests heavily in the US economy. It is all too well known that when the US economy sneezes, world markets collapse with a high fever.

The Chinese way of making decisions may require an iron fist and radical decisions. But whether China will make the same mistake twice is something that is actively observed.

Sources

1/ https://Google.com/

2/ https://www.wionews.com/opinions-blogs/opinion-is-xi-jinping-repeating-maos-mistake-419919

The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

ExBUlletin

to request, modification Contact us at Here or [email protected]