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Why China will sink deeper into economic doom

By James Rogan

Published January 15, 2024 12:52pm ET

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Why China will sink deeper into economic doom — In this photo released by Xinhua News Agency, Chinese President Xi Jinping, also general secretary of the Communist Party of China (CPC) Central Committee, leads other Chinese leaders attending the fifth plenary session of the 19th Central Committee of the Communist Party of China (CPC) in Beijing, China. Chinaâs leaders are vowing to make their country a self-reliant âtechnology powerâ after a meeting to draft a development blueprint for the state-dominated economy over the next five years. | (Wang Ye/Xinhua via AP)

In 2024, China will sink deeper into the tar pit of economic stagnation caused by statism and a refusal to embrace free market capitalism.

Xi Jinping, chairman of the Chinese Communist Party, prioritizes political stability and the primacy of the CCP over a dynamic economy. The data from countries all over the world are clear: big government and national industrial policy lead to stagnation.

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