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This is a good post by Dalio, but doesnât really contradict my view in any way.
Xiâs view is essentially: what does he have to do to not end up like Saddam, Qaddafi, and everyone else who got regime changed?
1) First, he was starting with a much stronger country than Iraq, Libya, or even Russia. China canât truly be sanctioned as itâs the worldâs factory.
2) Second, Xi has doubled down on the Great Firewall and existing tools for internal control. From Chinaâs perspective they successfully defeated the color revolution attempted in Hong Kong in 2019, where Julie Eadeh and the State Dept backed Joshua Wong.
3) Third, Xi has de facto nationalized many tech companies like Alibaba and ensured that the entrepreneurs arenât too friendly or dependent on the West. This is one of Chinaâs biggest weaknesses because those founders drove Chinaâs high-tech rise. However, Xiâs bet is that a younger generation of ultranationalist founders will step up. 6 replies
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