interpretation of China is that they really stunk, economically, and then Xi applied Socialism/Communism even harder and things improved. But Xi applied Socialism/Communism and it got better. It’s only now that things are going south again, and that more about the global economy than Xi.
But I think that is wrong.
History shows that under Socialism/Communism, China’s economy reeked rocks (as we used to say). But just before Xi there were “market reforms” that, just a bit, loosened the Socialism/Communism, and with freer markets, people did A LOT better. MANY people escaped poverty.
Then Xi came to power, panicked, and once again reverted to hard and strangling Socialism/Communism. With a vengeance. So now millions of people are once again thrust into poverty.
There’s a lesson here for American Leftists! Will they learn it? Magic Eight Ball says, “Outlook not so good.”