In the last year, Chinese markets have undergone an exodus of foreign investors.
Photographer: Andrew Wong/Getty Images
What Wall Street Gets Wrong About Xi Jinping’s New Money Men
China’s new lineup of top economic policy makers is about to take the stage. The view that they offer nothing more than a lurch to the left is too simplistic.
China is about to see its biggest reshuffle in decades as a generation of internationally respected economic officials makes way for a clutch of politicians better known for strong ties with President Xi Jinping than academic credentials or overseas exposure.
That prospect is ratcheting up anxiety from Wall Street and Washington to the UK and Japan, with concerns the new lineup will prove to be Xi yes-men who take China further toward state intervention and international isolation — away from the path set by a dynasty of pro-market officials that have called the shots since Deng Xiaoping first opened the door between China and the world.