Financial Times perspective: Beijing’s “deceptive” promise to China stock investors
Late last week, hedge fund guru turned philanthropist George Soros penned a strong warning in an op-ed for the FT. Soros wrote that those who investors who are believing "reassuring" messages from Beijing are being deceived: "Xi does not understand how markets operate. Xi regards all Chinese companies as instruments of a one-party state. Investors buying into this rally are facing a rude awakening." The excellent analysis republished below, below by FT columnist Merryn Somerset Webb, reaches similar conclusions. For me, her final paragraph brings it all together. Have a read – especially if you're tempted to dismiss Xi's "Common Prosperity" pledge as rhetoric rather than an existential threat to Chinese capitalism. – Alec Hogg
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