Xi's Corruption Crackdown vs. The Latest Covid Crackdown in China
Xi's crackdown on corrupt government officials might be the source of the reported sudden surge in coronavirus and the seemingly inhumane lockdowns being reported in Shanghai and now possibly in Beijing.
The brutal treatment of Chinese citizens being portrayed in the media may be playing into a narrative created to make Xi look like a tyrant, and thus make him unpopular throughout China, and be part of a larger plan to remove him from power. This has eerie similarities to the nonsensical covid crisis experienced in the US that was clearly engineered by the deep state, at least in part, to remove Trump from the US Presidency.
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For much of last year, China’s top leader, Xi Jinping, waged a fierce campaign to rein in private capital and narrow social inequalities. Regulators cracked down on tech giants and wealthy celebrities. Beijing demanded that tycoons give back to society. And the Communist Party promised that a new era of “common prosperity” was on the horizon.
https://www.nytimes.com/2022/04/12/business/china-economy-covid.html
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Chinese President Xi Jinping's corruption crackdown on the nation's sprawling financial sector is accelerating, reaching the upper levels at some of China's premier institutions and further unnerving investors having to contend with mounting headwinds for the world's second-largest economy.
At least17officials, including former China Merchants Bank Co president Tian Huiyu, have been probed or penalised in April, according to announcements from the Central Commission for Discipline Inspection
https://learngerman.dw.com/en/chinas-corruption-tiger-hunt-a-political-weapon-for-xi-jinping/a-40939473
(Bloomberg) – China’s worst equity selloff since early 2020 reflects a growing concern about President Xi Jinping: He can’t afford the political costs of shifting from a Covid Zero strategy that is pummeling the economy.
A steep sell-off of shares in Shanghai over the past months — with the market falling17 percentfrom mid-December to mid-March.
https://www.bloombergquint.com/china/xi-puts-ideology-before-economy-with-market-busting-lockdowns
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The consensus view is that General Secretary Xi Jinping’s third term is assured. However, for Xi to get his third term, some institutional adjustments and explanations will be needed.
First, Article 6 of the 2006 “Regulations on the Selection of Leading Party and Government Cadres” stipulates that reappointments to positions in the Chinese Communist Party (CCP) can be made only once, precluding a third term. This regulation is still in effect today, and if it were to be applied in its present form that would make it difficult for Xi to serve a third term. However, Xi could use this regulation to his advantage by becoming Chairman of the CCP on the grounds that he cannot serve three terms as General Secretary.
https://thediplomat.com/2022/04/ccp-regulations-and-xi-jinpings-bid-for-a-third-term/