, Columnist
China’s Tech Companies Get a Reprieve, Not a Pardon
Greater clarity and the promise of growth are positive signs, but the shadow of the crackdown lingers.
This good news may not last.
Photographer: Paul Yeung/BloombergThis article is for subscribers only.
It’s starting to look like President Xi Jinping has dusted off a 30-year old phrase to exhort his government into pump-priming the economy and easing off harsh regulatory measures. That’s good news for the tech sector, but it may not last.
“It’s the economy, stupid,” was one of U.S. presidential candidate Bill Clinton’s most famous quips in 1992. Now Xi is asking his government to heed the same call, though in more polite terms than the man who went on to become POTUS 42.