{"id":27302,"date":"2017-10-26T20:48:30","date_gmt":"2017-10-27T01:48:30","guid":{"rendered":"http:\/\/olduvai.ca\/?p=27302"},"modified":"2017-10-26T20:48:30","modified_gmt":"2017-10-27T01:48:30","slug":"kyle-bass-warns-xi-has-built-the-chinese-economy-on-a-foundation-of-sand","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=27302","title":{"rendered":"Kyle Bass Warns: Xi Has “Built The Chinese Economy On A Foundation Of Sand”"},"content":{"rendered":"

Kyle Bass Warns: Xi Has “Built The Chinese Economy On A Foundation Of Sand”<\/a>\u00a0<\/span><\/h3>\n
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Earlier this week, Chinese leader Xi Jinping became the third ruler in the communist country\u2019s history to have his named enshrined in its constitution \u2013 and the first to receive this honor while still alive. But as China celebrates its most popular, and most powerful, leader since at least Deng Xiaoping, Kyle Bass, hedge fund manager and noted China bear, told Bloomberg <\/a>the Communist Party will one day regret standing idly by as Xi consolidated his power.<\/strong><\/p>\n

\u201cToday Xi is celebrated in media reports, but when future historians look back, he will be blamed for recklessly building the Chinese economy on a foundation of sand,\u201d<\/strong> Bass, founder of Hayman Capital Management, said in an email Wednesday.<\/p><\/blockquote>\n

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\u201cXi desperately seeks credibility, but true developed economies do not impose severe capital controls or move short-term rates hundreds of basis points overnight in attempts to manipulate their own currency.\u201d<\/strong><\/p><\/blockquote>\n

Xi, who launched the twice-a-decade National Party Congress last week with a three-hour speech where he laid out his vision for \u201ccommunism with Chinese characteristics in a new era,\u201d the philosophy that was enshrined in the country\u2019s constitution by a unanimous vote. In a move that seemingly confirms suspicions that Xi plans to break with precedent and seek a third term after his second ends in 22, Xi appointed five new members to the Politburo,<\/p>\n

China\u2019s most powerful body, all of whom are too old to be viewed as credible heirs. Typically, Chinese leaders have pointed to a successor or possible successors by the time they begin their second term, ensuring that there\u2019s a clear path of leadership transition.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"

Kyle Bass Warns: Xi Has “Built The Chinese Economy On A Foundation Of Sand”\u00a0 Earlier this week, Chinese leader Xi Jinping became the third ruler in the communist country\u2019s history to have his named enshrined in its constitution \u2013 and the first to receive this honor while still alive. But as China celebrates its most […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[130,7861,8695,6392,4318],"class_list":["post-27302","post","type-post","status-publish","format-standard","hentry","category-economics","tag-china","tag-chinese-economy","tag-kyle-bass","tag-xi-jinping","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/27302","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27302"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/27302\/revisions"}],"predecessor-version":[{"id":27303,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/27302\/revisions\/27303"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}