[asiacouncil] Publication: Ethis, Efficiency, and Macroeconomics in China from Mao to Xi (Jonathan Leightner/Augusta University)

[David L Starling]

Dear Asianists,




Jonathan Leightner's book,  Ethics, Efficiency, and Macroeconomics in China from Mao to Xi came out in April of 2017.  In it, he shows how China’s leaders, from Mao to Hu Jintao, have lost power (but not necessarily their official positions) when their signature policies have failed.  As the 19th Congress of the Chinse Communist Party has just concluded, this is a timely addition to your required reading on China.


Jonathan adds:


I predicted that at the 19th Congress of the Chinese communist party, which just concluded last week, that Xi Jinping would lose power (but keep his official positions); however, I did hedge my bets by saying that the results would depend on how many of Xi’s rivals had been eliminated in Xi’s anti-corruption campaign.  I argued that Xi would lose power because his promotion of the Chinese stock market ended in a huge collapse of that market in June 2015-January 2016 and due to his failure to replace the US dollar with the Chinese yuan as the world’s dominant currency.



A close examination of the seven members of the standing committee of the Politburo of the Chinese Communist party who were announced at the end of the 19th Congress (last week) shows that I was correct.  The fact that Le Keqiang has kept the second position when Xi clearly has disliked and opposed him is part of my evidence.  The fact that Wang Yang, who is from the Chinese Youth League faction in contrast to Xi Jinping who is a princeling, was promoted is more evidence.  Wang Yang is especially significant because he is the one who allowed for totally free elections in Wukan after its land grab protest under the Hu Jintao administration.  Xi Jinping had undone that freedom by arresting the elected governor.  Furthermore, the person that Xi wanted to continue to run the anti-corruption agency, was retired and he was replaced with someone who has no clear loyalties to any group.  I think this is an indication that the Chinese Communist party is tired of anti-corruption campaigns being run as a political tool.



Some experts have argued that the fact that no one was promoted to the standing committee of the Politburo who is young enough to be Xi’s successor in 5 more years is an indication that Xi intends to stay for a third term.  However, I interpret the lack of young promotions to the standing committee as another evidence that Xi does not have the power to appoint a successor that could become his puppet in 5 years.  It is an evidence that the powers-to-be could not agree on a successor, and that Xi could not plow his way through that lack of agreement.



The link to get your own copy is below:


https://www.amazon.com/Ethics-Efficiency-Macroeconomics-China-Mao/dp/1138630926

Ethics, Efficiency and Macroeconomics in China: From Mao to Xi: 9781138630925: Business Ethics Books @ Amazon.com<https://www.amazon.com/Ethics-Efficiency-Macroeconomics-China-Mao/dp/1138630926>
www.amazon.com
Ethics, Efficiency and Macroeconomics in China: From Mao to Xi: 9781138630925: Business Ethics Books @ Amazon.com





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