China is in a bind: Internationally, its support for Russia in the Ukraine invasion has put Beijing at odds with the West and may expose it to secondary sanctions. Domestically, regulatory crackdowns, a real estate slump and zero-COVID policies are damaging economic growth. Financial journalist Noah Smith ties China’s responses to these crises to President Xi Jinping’s ambition to create a new world order, providing an engrossing take on the political realities driving the Chinese leader.
About the Author
Noah Smith is a former Bloomberg columnist and assistant professor of finance at Stony Brook University. He blogs at Noahpinion.