400 Million Chinese Middle Class Vanished, and Falling Back Into Poverty Is Inevitable
400 Million Chinese Middle Class Vanished, and Falling Back Into Poverty Is Inevitable
Udumbara
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Now, with China’s economic recovery sluggish, escalating geopolitical tensions, and the intensification of economic decoupling, China is accelerating its return to the so-called “domestic major circulation” and preparing to follow the old path of a planned economy. Thus, China’s middle class is not part of Xi Jinping’s political blueprint. The future of China has no place for the middle class; for Xi’s regime, this class will inevitably be eliminated. The middle class is seen as the biggest obstacle to the CCP’s return to a planned economy, wartime economy, and the people’s communes.
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